Nzira Yokuwana Nokuongorora Nhengo dzeGermany Bunds
Muchikamu chino, tichacherechedza kuti zvikwata zveGermany ndezvipi uye kuti vatengesi vangashandisa sei bund kupararira kuti vaone utano hwehutano hwakasiyana-siyana hweEurozone.
Zvikwata uye Bund Zvinoparadzira
Zvikwata zveGermany zvinongova madzishe ezvisungo izvo zvakafanana neMafumi muUnited States - izwi rokuti "bund" ndiro rechiGerman re "bond". Izvi zvinowanzobatwa mumakore maviri, makore mashanu, makore gumi uye makumi matatu nemakore ekuwedzera, sezvakunoitwa mune dzimwe nyika dzakawanda dzakashambadzirwa.
Zvibereko zvakabhadharwa kune vatengesi pazvikwata izvi zvinoratidza zvemari mune zvose munyika uye mu eurozone . Vashandi vanotya nezveramangwana renyika kana kuti ramangwana ravo mune ramerica vangave vachida kudzoka kwepamusoro pakudyara kwavo uye nokudaro vanoita kuti hurumende ikwanise kuwedzera, asi avo vanoda nzvimbo yakachengeteka vangave vanoda kugamuchira michero yakaderera. Bund inobatsira inogonawo kushandiswa nehuwandu hwezvikwereti zvehuwandu uye mutemo wemari wakatarwa neEuropean Central Bank (ECB).
Kusiyana pakati pezvibereko zveGermany bund uye zvevamwe nyika vanozivikanwa se "bund kupararira". Somuenzaniso, kana mabhiriyoni emakore gumi nemazana maviri eGermany ari kubhadhara 1,3% uye zvibvumirano zveSpanish zvemakore gumi zvinokonzera 5.5%, saka bund inopararira neSpain ichava 4.2%.
MuEurozone, Germany inowonekwa senyika yakakura uye yakagadzikana, iyo inoreva kuti zvikwata zvayo zvinoshandiswa seyero yegoridhe yekuenzanisa.
Saka kupararira kwepamusoro kunobatanidza nehutano hukuru hwekuenzaniswa kwenyika, asi kupararira kwepaduku kunowanzoreva kuratidzika kwehuwandu hwekuti nyika ienzaniswe, sezvo mutengo iwoyo wega uye mutemo wemari zvinoshandiswa mukati rose.
Kuverenga muBund Kupararira
Zvikwata zvomuGermany zvakatangira panguva yeEuropean Union Debt Crisis, sezvo vakapa nzira iri nyore yekuverenga kushanda. Kurwisana kwenyika yeEurope vakaona bund dzavo dzakapararira dzichiwedzera, sezvo mari yavo yokukwereta yakakura nekukurumidza kupfuura yeGermany. Nhepfenyuro yezvemari inowanzotarisa idzi dzinopararira kujekesa nyika dziri kurwisana nezvibereko.
Bund inonyanya kuzivikanwa pakuona ndiyo makore gumi emakore, sezvo inowira pakati penguva pfupi uye kwenguva refu. Asi, nguva yezvisungo zvinogona kupawo ruzivo rwakakosha kune mafinisiro ekutengesa kune dzimwe nguva dzakasiyana-siyana. Semuenzaniso, zvisungo zvenguva pfupi zvinoratidza kuti zvinhu zvakanaka, asi kwenguva yakareba zvibereko zvinowedzera zvinogona kuva chiratidzo chematambudziko mberi.
Pakupedzisira, vatengesi vanotarisawo maGerman mabunds pachavo (pasina kuenzanisa) kuti aone kana mumusika uri kutsvaga nzvimbo yakachengeteka kana kwete. Semuenzaniso, kusabereka kwakashata pamakore maviri egore rinogona kuratidza kuti nguva shoma yevatengesi inonetseka.
Mune mhaka yezvibereko zvakashata, vatengesi vari kutobhadhara nyika kuti vawane mari yavo vachitya kurasikirwa kune imwe nzvimbo.
Kuwana uye Kutengesa Bund Kunopararira
Vashandi vanotarisa kutsvaga kuwanika kushandiswa kwechikwata kuti vabatsire pakutsvakurudza kwavo kwema eurozone vanogona kuwana ruzivo mune nzvimbo dzakasiyana-siyana. Nzvimbo inonyanya kuzivikanwa ndiyo chikamu cheBloomberg Rates & Bonds, iyo inowedzera maitirwo emakambani makuru eEurozone, pamwe chete nedzimwe hupfumi hune huwandu hwepasi pose kuenzanisa.
Vatengesi vachitsvaga kuti vaite mabheti emitemo pazvigadzirwa zvinogona kuita saizvozvo vachishandisa Eurex's Euro-Bund mune ramangwana, iyo inomiririra chikamu chechiGerman chemakore gumi. Nezvibvumirano zvinodarika mamiriyoni zvinotengeswa zuva rimwe nerimwe, chibvumirano ndicho chibvumirano chinonyanya kutengeserana pamusoro pekushandura kweEurex kushandiswa, sezvo ndiyo nzira iri nyore yekutengesa kumaGerman mabunds.
The Bottom Line
Chikwata cheGermany chinomiririra chinhu chikuru chekodzero yemari yeEurozone, zvose kuenzanirana nedzimwe nyika uye kuenzanisa kusungirirwa kwekutengeserana kwekutengesa. Vatengesi vanogona kushandisa ruzivo urwu kuti vaite mabheti emitemo kana kuti kungoongorora kuisa kwemahofisi avo.