欧洲央行启动量化宽松计划
关键词：欧洲央行启动量化宽松计划
据报道，在包括德国在内的多个政府债券市场，各央行的购买价格意味着如将这些债券持有到期，那么它们可能赔钱。在法国、荷兰、比利时、奥地利和斯洛伐克，符合量宽条件的债券也处于负收益率水平。
报道指出，投资者愿意掏钱购买向某些欧元区政府借钱的“特权”，反映出市场担心欧元区可能面临一场日本那样的“失去的十年”式经济停滞。欧元区物价水平5年来首次下跌，为扑灭通缩，欧洲央行和欧元区各国央行预计将购买约8500亿欧元的欧元区政府债券。
作为欧元区市场基准的10年期德国国债收益率9日下跌8个基点，至0.31%，使得美国和德国国债间本已可观的收益率差距创下新高。上周乐观的美国就业报告引发投资者猜测，美联储将在今年年中升息。西班牙和意大利国债价格涨幅较小，收益率分别下降1个和3个基点。
报道还称，目前不符合量宽购买条件的希腊债券的收益率升至9.82%，在该国反紧缩的激进政府上台后，投资者眼下仍然担心该国能否偿债。
较安全的欧元区债券高昂的成本、以及人们认为投资者无论以任何价格都将不愿售出，使得外界质疑在从现在到2016年9月的这段时间里，欧元区能否每月买到价值600亿欧元的公共和私营部门资产。
巴克莱(Barclays)主权债券主管李·康布斯(Lee Cumbes)表示：“主要问题是，欧洲央行将从哪里买到它想要购买的这么多债券。”预计欧洲央行和欧元区各国央行将保持以所需数量购买政府债券—直到符合条件的期限最长的债券收益率降至-0.2%以下。
报道还指出，欧洲央行上周设置了-0.2%的收益率下限，拒绝以低于欧洲央行对欧元区银行存款所收取利率的收益率购买债券。目前尚不清楚负收益率带来的亏损将由欧洲央行或欧元区各国央行承担。
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本文来源： 大田环球贵金属
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