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Na mesma linha da reacção de Paul Krugman no seu blog, Bill Gross, responsável da Pimco, empresa líder mundial de gestão de activos, explicou à Bloomberg considerar que leilões como aquele a que hoje foi submetida a dívida pública portuguesa são «combinados» e, por isso, «sem relevância para o risco das dívidas soberanas».
Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co. in Newport Beach, California, comments in an interview with Margaret Brennan on Bloomberg Television’s “InBusiness” on the outlook for the euro zone after Portugal sold debt today as well as prospects for U.S. Treasuries.
On Portugal’s sale of 599 million euros ($778 million) of bonds due in 2020 at a yield of 6.716 percent:
“Portugal did sell a 10-year at slightly under 7 percent, but that to me is not a successful yield. It speaks in the long term to Portugal not being able to service its debt simply because its primary deficit is increasing based upon its high yields.
“Basically, these auctions are pre-arranged sales. They are not really auctions. They are bought by domestic banks within euro land and then re-discounted to the central bank, so it’s internal buying. They are really looking for the private institutions like Pimco and other insurance companies to buy, and we just haven’t done that yet.
“Euro land has a high debt problem, and it helps to spread the benefits so to speak from Germany out. I’m not optimistic in terms of their peripheral countries, and we wouldn’t invest in them at the moment.”
Cf. também:
- Pyrrhic Bond Auctions
- Update on Portugal Bond Auction
- Portugal? O Nao!
- Portugal’s Auction Not at ‘Successful Yield,’ Pimco’s Gross Says
- Europe Update: Portugal Bond Auction Wednesday
Na imprensa internacional:
- Wall Street Journal: Portugal's Auction Soothes Nerves
- NY Times: Portugal Bond Sale Succeeds Despite Budget Woes
- Financial Times: Lisbon succeeds with debt auction
- Washington Post: Portugal Aid, Buybacks, Debt Rules Weighed in EU Plan
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