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<\/p>\nV\u00fdnosy z dlhopisov tento t\u00fd\u017ede\u0148 vzr\u00e1stli po v\u00fdraznom zv\u00fd\u0161en\u00ed prir\u00e1\u017eky zo strany Feder\u00e1lneho rezervn\u00e9ho syst\u00e9mu, ktor\u00e9 varovalo pred \u0165a\u017ekos\u0165ami na trhu.<\/p>\n
V\u00fdnos z dvojro\u010dn\u00fdch \u0161t\u00e1tnych dlhopisov citliv\u00fdch na politiku v piatok vzr\u00e1stol na 4,2661 TP3T, \u010d\u00edm dosiahol 15 a\u017e 12-mesa\u010dn\u00e9 maximum, a referen\u010dn\u00fd 10-ro\u010dn\u00fd \u0161t\u00e1tny dlhopis dosiahol 3,8291 TP3T, \u010do je najviac za 11 rokov.<\/p>\n
K rast\u00facim v\u00fdnosom doch\u00e1dza, preto\u017ee trhy zva\u017euj\u00fa v\u00fdsledky politick\u00fdch rozhodnut\u00ed Fedu, pri\u010dom priemyseln\u00fd index Dow Jones stratil v medvedom p\u00e1sme takmer 600 bodov a v roku 2022 klesol na \u010dist\u00e9 minimum.<\/p>\n
Invertovan\u00e1 v\u00fdnosov\u00e1 krivka, ktor\u00e1 vznik\u00e1, ke\u010f kr\u00e1tkodob\u00e9 v\u00fdkonn\u00e9 dlhopisy maj\u00fa vy\u0161\u0161ie v\u00fdnosy ako dlhodob\u00e9 dlhopisy, je indik\u00e1torom mo\u017enej bud\u00facej recesie.<\/p>\n
Osobn\u00e9 financie navy\u0161e: infl\u00e1cia a lep\u0161ie sadzby s\u00fa pre spotrebite\u013eov \u2018nebezpe\u010dnou zmesou'. Man\u017eelstvo? Ako rozpozna\u0165, kedy je potrebn\u00e9 skombinova\u0165 svoje financie. Novope\u010den\u00ed d\u00f4chodcovia m\u00f4\u017eu tie\u017e \u010deli\u0165 pr\u00edplatkom za poistn\u00e9 Medicare.<\/p>\n
\u201cVy\u0161\u0161ie v\u00fdnosy dlhopisov s\u00fa nebezpe\u010dnou spr\u00e1vou pre akciov\u00fd trh a jeho obchodn\u00edkov,\u201d povedal certifikovan\u00fd finan\u010dn\u00fd pl\u00e1nova\u010d Paul Icines, majite\u013e spolo\u010dnosti Five Seasons Money Planning v metropole Salt Lake City.<\/p>\n
Vy\u0161\u0161ie v\u00fdnosy z dlhopisov vytv\u00e1raj\u00fa v\u00e4\u010d\u0161iu konkurenciu o dol\u00e1re, ktor\u00e9 by inak mohli \u00eds\u0165 na akciov\u00fd trh, zimn\u00e9 po\u010dasie prehovorilo a vzh\u013eadom na vy\u0161\u0161ie v\u00fdnosy \u0161t\u00e1tnych dlhopisov pou\u017eit\u00e9 pri v\u00fdpo\u010dte na kontrolu akci\u00ed m\u00f4\u017eu analytici tie\u017e zn\u00ed\u017ei\u0165 o\u010dak\u00e1van\u00e9 bud\u00face pe\u0148a\u017en\u00e9 toky.<\/p>\n
Okrem toho m\u00f4\u017ee by\u0165 pre spolo\u010dnosti menej prijate\u013en\u00e9 vyd\u00e1va\u0165 dlhopisy na sp\u00e4tn\u00fd odkup akci\u00ed, \u010do je pre hospod\u00e1rske korpor\u00e1cie sp\u00f4sob, ako prinies\u0165 peniaze akcion\u00e1rom, poznamenalo zimn\u00e9 po\u010dasie.<\/p>\n
Zv\u00fd\u0161enie sadzieb Fedu \u2018mierne' prispieva k vy\u0161\u0161\u00edm v\u00fdnosom dlhopisov.<\/p>\n
Ceny dlhopisov na trhu a v\u00fddavky na dlhopisy sa vo v\u0161eobecnosti pohybuj\u00fa opa\u010dn\u00fdmi smermi, pri\u010dom vy\u0161\u0161ie \u00farokov\u00e9 sadzby sp\u00f4sobuj\u00fa pokles hodnoty dlhopisov. Existuje tie\u017e inverzn\u00fd vz\u0165ah medzi n\u00e1kladmi na dlhopisy a v\u00fdnosmi, ktor\u00e9 sa zvy\u0161uj\u00fa s poklesom hodnoty dlhopisov.<\/p>\n
Winter pouk\u00e1zal na to, \u017ee zv\u00fd\u0161enie sadzieb Fedom mierne prispelo k vy\u0161\u0161\u00edm v\u00fdnosom dlhopisov, \u010do malo vplyv na vari\u00e1ciu pozd\u013a\u017e v\u00fdnosovej krivky \u0161t\u00e1tnych dlhopisov.<\/p>\n
<\/p>\n
\u00a0\u201c\u010c\u00edm \u010falej sa po v\u00fdnosovej krivke posuniete nahor a \u010d\u00edm uspokojivej\u0161ie si zn\u00ed\u017eite kreditn\u00e9 sk\u00f3re, t\u00fdm menej zv\u00fd\u0161enie sadzieb Fedu ovplyv\u0148uje \u00farokov\u00e9 sadzby,\u201d povedal.<\/span><\/p>\n Toto je hlavn\u00fd d\u00f4vod invertovanej v\u00fdnosovej krivky v tomto roku, pri\u010dom 2-ro\u010dn\u00e9 v\u00fdnosy rast\u00fa mimoriadne vy\u0161\u0161ie ako 10-ro\u010dn\u00e9 alebo 30- a\u017e 12-mesa\u010dn\u00e9, povedal.\u00a0\u00a0<\/span><\/p>\n oce\u0148ovanie alok\u00e1ci\u00ed vlastn\u00e9ho kapit\u00e1lu a dlhopisov<\/span><\/p>\n \u201eAlebo nie je vhodn\u00fd \u010das na prehodnotenie diverzifik\u00e1cie portf\u00f3lia, aby ste zistili, \u010di s\u00fa potrebn\u00e9 \u00fapravy, ktor\u00e9 zodpovedaj\u00fa prerozdeleniu akt\u00edv s cie\u013eom formova\u0165 va\u0161u toleranciu vo\u010di riziku,\u201c povedal Jon Ulin, CFP a gener\u00e1lny riadite\u013e spolo\u010dnosti Ulin & Co. Wealth Management v Boca Raton na Floride.<\/span><\/p>\n V pr\u00edpade dlhopisov konzultanti sleduj\u00fa tzv. dur\u00e1ciu, \u010di\u017ee meranie citlivosti dlhopisov na zmeny \u00farokov\u00fdch sadzieb. Vyjadren\u00e1 v rokoch, prvky kup\u00f3nov\u00e9ho obdobia, d\u00e1tum splatnosti a v\u00fdnos vypl\u00e1can\u00fd po\u010das doby splatnosti.\u00a0<\/span><\/p>\n V prvom rade musia obchodn\u00edci zosta\u0165 disciplinovan\u00ed a trpezliv\u00ed, ako v\u017edy, ale najm\u00e4 ak akceptuj\u00fa ako pravdu, \u017ee n\u00e1klady bud\u00fa na\u010falej r\u00e1s\u0165.<\/span><\/p>\n Pavol Zima<\/span><\/p>\n Majite\u013e spolo\u010dnosti Five Seasons Monetary Planning<\/span><\/p>\n Zatia\u013e \u010do klienti prij\u00edmaj\u00fa vy\u0161\u0161ie v\u00fdnosy z dlhopisov, Ulin navrhuje udr\u017eiava\u0165 kr\u00e1tke trvania a minimalizova\u0165 expoz\u00edciu vo\u010di dlhodob\u00fdm dlhopisom s rast\u00facimi cenami.<\/span><\/p>\n \u201cMo\u017enos\u0165 dlh\u0161ieho trvania by mohla tie\u017e negova\u0165 niektor\u00e9 z ich zn\u00ed\u017een\u00ed v priebehu nasleduj\u00facich 12 mesiacov, a to aj pri dobrom sektorovom alebo kreditnom sk\u00f3re,\u201d poznamenal.<\/span><\/p>\n Zimn\u00e1 kl\u00edma nazna\u010duje naklonenie alok\u00e1cie akci\u00ed smerom k \u201ccene a spokojnosti\u201d, zvy\u010dajne k n\u00e1kupu a predaju za menej, ako je hodnota akt\u00edva, namiesto rastov\u00fdch akci\u00ed, u ktor\u00fdch sa d\u00e1 o\u010dak\u00e1va\u0165 nadpriemern\u00fd v\u00fdnos. Obchodn\u00edci s cenami \u010dasto h\u013eadaj\u00fa podhodnoten\u00e9 agent\u00fary, u ktor\u00fdch sa o\u010dak\u00e1va, \u017ee ich hodnota v priebehu \u010dasu zhodnot\u00ed.\u00a0<\/span><\/p>\n \u201cKupuj\u00faci musia zosta\u0165 disciplinovan\u00ed a trpezliv\u00ed, ako v\u017edy, ale najm\u00e4, ak s\u00fahlasia s poplatkami, bud\u00fa pokra\u010dova\u0165 v ich zvy\u0161ovan\u00ed,\u201d povedal.<\/span><\/p>","protected":false},"excerpt":{"rendered":" Os rendimentos dos t\u00edtulos subiram esta semana ap\u00f3s um aumento de custo extra importante do Federal Reserve, alertando sobre as dificuldades do mercado. O rendimento do Tesouro de 2 anos de pol\u00edtica delicada na sexta-feira subiu para 4,266%, atingindo um excesso de 15 a 12 meses, e o Tesouro de refer\u00eancia de 10 anos atingiu […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-425","post","type-post","status-publish","format-standard","category-economia"],"_links":{"self":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts\/425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/comments?post=425"}],"version-history":[{"count":0,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts\/425\/revisions"}],"wp:attachment":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/media?parent=425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/categories?post=425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/tags?post=425"}],"curies":[{"name":"pracovn\u00fd list","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}