Ngaphakathi kwezicwangciso zotyalo mali, kufuneka kuqatshelwe ukuba indlela otyala ngayo imali kwiibhondi kwixesha elifutshane okanye elide ixhomekeke kwiinjongo zakho zotyalo-mali kunye nemigaqo, ubungakanani bomngcipheko ozimisele ukuwuthatha kunye nemeko yakho yerhafu.
Xa ucinga ngesicwangciso sotyalo mali, khumbula ukubaluleka kokwahlukahlukana. Njengomgaqo ngokubanzi, ayingombono mhle ukubeka zonke iiasethi zakho nawo wonke umngcipheko wakho kudidi olunye lweeasethi okanye kutyalo-mali. Uya kufuna ukwahlula ubungozi kutyalo-mali lwakho lwebhondi ngokwenza ipotifoliyo yeebhondi ezininzi, nganye eneempawu ezahlukeneyo.
Ukukhetha iibhondi ezivela kubanikezeli abohlukeneyo kukukhusela ekubeni kunokwenzeka ukuba umniki omnye angabinakho ukuhlangabezana noxanduva kunye nenqanaba lokuhlawula inzala. Ukukhetha iibhondi zeentlobo ezahlukeneyo (urhulumente, iarhente, inkampani, oomasipala, izinto ezixhaswa ngemali mboleko, njl.njl.) Kudala ukhuseleko ngokuchasene nokwenzeka kwelahleko kulo naliphi na icandelo lentengiso. Ukukhetha iibhondi zokuvuthwa okwahlukileyo kunceda ekulawuleni umngcipheko wenzala.
Utyalomali kwingeniso esisigxina: iinjongo
Ngale nto engqondweni, qaphela ezi njongo kunye neendlela zokufezekisa. Eyokuqala kukugcina imali kunye nokufumana inzala. Ukuba injongo yakho kukugcina imali yakho ihleli kwaye uzuze inzala, jonga iqhinga "lokuthenga ubambe". Xa utyala imali kwi-bond uyibambe yavuthwa, uyakufumana inzala, ihlala iphindwe kabini ngonyaka, kwaye uyakufumana ixabiso lebhondi kwiqondo lokukhula. Ukuba ibhondi oyikhethileyo ithengisa ngexabiso eliphambili ngenxa yokuba ikhuphoni layo liphezulu kunentlawulo ekhoyo yenzala, gcinani engqondweni ukuba imali oyifumanayo xa ukhulile iya kuba ngaphantsi kunemali oyihlawulayo yebhondi.
Xa uthenga kwaye ubamba, awunakukhathazeka kakhulu malunga nefuthe lamaxabiso wenzala kwixabiso okanye kwixabiso lentengiso lebhondi. Ukuba inzala inyuka kwaye ixabiso lentengiso yebhondi yakho liwile, awuyi kuziva nayiphi na impembelelo ngaphandle kokuba utshintshe isicwangciso sakho kwaye uzame ukuthengisa ibhondi. Nangona kunjalo, ukubamba ibhondi kuthetha ukuba ngekhe ube nakho ukutyala imali kwiirhafu eziphezulu.
Ukuba ibhondi oyikhethileyo inokuhlawulelwa, ubeke emngciphekweni ukuba inqununu yakho ibuyele kuwe ngaphambi kokuba iphele. Iibhondi zihlala "zikhululwa", okanye zikhululwa kwangoko ngumkhuphi wazo, xa amaxabiso enzala esihla, oko kuthetha ukuba uyakunyanzelwa ukuba utyale inqununu yakho ebuyisiweyo ngezona zinga zisezantsi.
Inzala iyasetyenziswa
Xa utyala imali ukuthenga nokubamba, qiniseka ukuba uthathele ingqalelo: inzala yebhondi yebhondi (phinda ngebhondi okanye ngexabiso lobuso ukumisela inani ledola yentlawulo yakho yenzala yonyaka). "Isivuno sokuvuthwa" okanye "isivuno kwifowuni." Ukusebenza okuphezulu kunokuthetha umngcipheko ophezulu.
Umgangatho wekhredithi womkhuphi. Ibhondi enereyithi esezantsi inokubonelela ngesivuno esiphezulu, kodwa ikwanomngcipheko ophezulu wokuba umnikezeli ngekhe abe nakho ukufeza izithembiso zakhe.
Yandisa ingeniso
Ukuba injongo yakho kukwandisa umvuzo wakho wenzala, uya kuthi ufumane amakhuphoni aphezulu kwiibhondi zexesha elide. Ngexesha elininzi lokukhula, iibhondi zexesha elide zisengozini yokutshintsha kumanqanaba enzala. Nangona kunjalo, ukuba uthengile kwaye ubambe umtyali mali, olu tshintsho aluzukuchaphazela ngaphandle kokuba utshintshe isicwangciso sakho kwaye uthathe isigqibo sokuthengisa iibhondi zakho.
Uyakufumana amaxabiso aphezulu esigqebhezana kwiibhondi ezihlanganisiweyo kunakuNondyebo wase-US onokuvuthwa okufanayo. Kwimarike yequmrhu, iibhondi ezinamanqanaba asezantsi okuthenga ngetyala zihlala zihlawula imbuyekezo ephezulu kunemali mboleko ephezulu enokuvuthwa okuthelekiswayo.
Izibophelelo ezivelisa kakhulu (ngamanye amaxesha zibizwa ngokuba yi-junk bond) zihlala zibonelela ngexabiso lentengiso elingaphezulu kweemarike kunye nezivuno ngenxa yokuba abo bakhuphileyo benamazinga okuthenga ngetyala ngaphantsi komgangatho wekhredithi: i-BB okanye isezantsi kwi-Standard & Poor's; Ba okanye ezantsi kwiMoody's. Umgangatho ophantsi wokuthenga ngetyala, kokukhona umngcipheko wokuba umnikezeli anokungazibopheleli kwizibophelelo zakhe okanye angakwazi ukuhlawula inzala okanye ukubuyisa inqununu xa kufanelekile.
Ukuba ucinga ngokutyala imali kwizibophelelo zemveliso ephezulu, uyakufuna ukwahlula notyalomali lwakho lwebhondi phakathi kwabanikezeli ngeenkonzo ezahlukeneyo ukunciphisa ifuthe elinokubakho lokusilela okukodwa komnikeli omnye. Ixabiso lentengo yebhondi ephezulu lisemngciphekweni kakhulu kunamanye amaxabiso ebhondi kukothuka koqoqosho, xa umngcipheko wokungahlawuliswa ubonwa ukuba uphezulu.
Ulawulo lwengozi
Inzala yolawulo lomngcipheko: Izinyuko neeBhari. Ukuthenga nokubamba abatyali mali banokulawula umngcipheko wenzala ngokudala iphothifoliyo "enqatyisiweyo" yeebhondi ezinemilinganiselo eyahlukeneyo, umzekelo, unyaka omnye, emithathu, emihlanu, kunye nelishumi. Iphothifoliyo emxinwa inenqununu ebuyiswayo ngamathuba amiselweyo. Xa ibhondi iphela, unethuba lokuphinda ufumane imali emva kwexesha elide leleli ukuba ufuna ukuqhubeka. Ukuba amaxabiso ayenyuka, loo mali ikhulayo inokutyalwa kumazinga aphezulu. Ukuba bayehla, iphothifoliyo yakho iyaqhubeka nokufumana inzala ephezulu ekubanjweni kwexesha elide.
Ngesicwangciso sebar, utyala imali kuphela kwiibhondi zexesha elifutshane kunye nexesha elide, hayi abathengisi. Ukubanjwa kwexesha elide kufuneka kubonelele ngamaxabiso amakhuphoni anomdla. Ukuba nemali eyinkunzi ekhula kwixesha elifutshane kudala ithuba lokutyala imali kuyo
Isivuno kubuncwane baseMelika sikhuphuke ngolwe-Sihlanu, emva kwengxelo yengqesho ka-Epreli ibingeyonto imbi njengoko bekulindelwe. Ukongeza, ikamva lemali yomdibaniselwano sele liphungula ukubakho kwamazinga enzala amabi kulo nyaka, kwaye abatyali zimali bahlala bexhalabile malunga nokuba uqoqosho lunokuphinda lubuye nini kwi-coronavirus ebangelwe kukudodobala koqoqosho. Isivuno seminyaka eli-10 se-bond bench sinyuka saya kwi-0,6688% ngelixa isivuno seminyaka emibini semali sifikelela kwi-0,1329%. Le yimeko yokuba iimarike zengeniso esisigxina zibonise njengenye yeendlela zentengiso yesitokhwe kunyaka obunzima kakhulu njengalo wangoku.
Iibhondi zamazwe angaphandle
Baninzi abahlalutyi kwiimarike zezemali eziqikelela ukuba kuya kuba nzima ngakumbi ukutyala imali kumvuzo osisigxina kunakwizabelo zamashishini ezingenanzala emisiweyo. Kungenxa yokuba beveza umngcipheko ngakumbi kwezi meko zangoku kwaye apho iimveliso ezahlukeneyo zichanabeke ngakumbi kubakhubazekileyo ekufakweni kwiphothifoliyo yenxalenye elungileyo yabatyali mali abancinci nabaphakathi. Ngokukodwa, ngemodeli yotyalo-mali enje ngemali yotyalo-mali esekwe kule asethi yemali. Ngokukodwa kwezinye iifom zengeniso emiselweyo, ezinje ngeebhondi ezivela kumazwe angaphandle kunye nesivuno esikhulu. Ngabo abanokuziphatha okubi ukusukela ngalo mzuzu ukuya phambili.
«I-euro iyabuya ukubuyisa ilahleko kwezi ntsuku zimbini zidlulileyo, emva kwesibhengezo esigxininisayo sikaChristine Lagarde kwisiphelo somGaqo-siseko waseJamani ngokuchasene nenkqubo yokwandiswa kwamanani. Umongameli we-ECB izolo uthe eli ziko alizukusoyikiswa sisigwebo senkundla yesizwe kwaye sizakuqhubeka nokwenza konke okufunekayo ukufezekisa igunya lalo lokuzinza kwamaxabiso. Izikhewu kwintengiso yetyala loluntu zibonakala ngathi ziye zasabela kakuhle kwesi sigqibo, nangona i-Italiya isasazekile kwisivuno seebhondi zaseJamani sisasebenza kufutshane neephezulu zika-Epreli, zidandathekisa umfutho wemali enye.
Kugcinelwa injongo yexesha elizayo
Ukuba uneminyaka emithathu ubudala, unokujamelana nebhili yakho yokuqala yokufunda kwiikholeji kwiminyaka eyi-15. Ungazi ukuba kwiminyaka engama-22 uyakufuna ukuhlawulelwa indlu yakho yomhlalaphantsi. Ngenxa yokuba iibhondi zinomhla wokuphelelwa uchaziweyo, banokukunceda uqiniseke ukuba imali ikhona xa uyidinga.
Iibhondi zekhuphoni zeZero zithengiswa ngesaphulelo esikhulu kwixabiso lobuso elibuyiselwe ekukhuleni. Inzala ibangelwa yibhondi kubomi bayo. Endaweni yokuba ihlawulwe kumnini-bhondi, ifakiwe kumahluko phakathi kwexabiso lokuthenga kunye nexabiso lobuso ekuvuthweni.
Unokutyala imali kwiibhondi zekhuphoni kunye nemihla yokuvuthwa okucwangcisiweyo ngokusekwe kwiimfuno zakho. Ukuxhasa ngemali imfundo yeminyaka emine yasekholejini, ungatyala imali kwipotifoliyo enezinto ezine, nganye ikhula kwenye yeminyaka emine elandelelanayo ekufuneka ihlawulwe. Nangona kunjalo, ixabiso le-zero coupon bond libuthathaka ngakumbi kutshintsho lwamaxabiso wenzala, ke ngoko kukho umngcipheko ukuba ufuna ukuzithengisa ngaphambi komhla wokuvuthwa. Kungcono ukuthenga ii-zeros ezihlawulelwa irhafu (ngokuchasene nomasipala) kwikholeji echazwe kwirhafu okanye kwiakhawunti yokonga umhlala-phantsi kuba inzala efumanekayo kwibhondi ihlawulelwa irhafu rhoqo ngonyaka nokuba awuyifumani de ube ukhulile.
Isicwangciso esineebhulethi sinokukunceda ukuba utyale imali kumhla ochaziweyo wexesha elizayo. Ukuba uneminyaka engama-50 kwaye ufuna ukonga iminyaka yobudala yomhlala-phantsi engama-65, kwisicwangciso sobuchule ungathenga isibophelelo seminyaka eli-15 ngoku, isibophelelo seminyaka eli-10 kwiminyaka emihlanu, kunye nesibophelelo seminyaka emihlanu kwiminyaka eli-10. Utyalomali olothusayo ngale ndlela lunokukunceda ukuba uxhamle kumjikelo owahlukileyo wenqanaba lenzala.
Ngaphambi kokuphela kwayo
Izizathu zokuba ungathengisa ibhondi ngaphambi kokuvuthwa. Abatyalomali abalandela isicwangciso sokuthenga nokubamba banokuhlangabezana neemeko ezifuna ukuba bathengise ibhondi ngaphambi kokuvuthwa kwezi zizathu zilandelayo:
Bafuna inkunzi. Nangona ukuthenga nokubamba kuhlala kusetyenziswa njengesicwangciso sexesha elide, ubomi abuhlali busebenza njengoko bekucwangcisiwe. Xa uthengisa ibhondi ngaphambi kokuvuthwa, unokufumana ngaphezulu okanye ngaphantsi kunoko bekuhlawulwe ngako. Ukuba inzala inyukile oko kuthengiwe ibhondi, ixabiso layo liyakube lehlile. Ukuba amaxabiso anciphile, ixabiso lebond liyakunyuka.
Bafuna ukwenza inzuzo enkulu. Ukuba amaxabiso ewile kwaye ixabiso lebond lixabisekile, umtyali mali angagqiba ekubeni kungcono athengise ngaphambi kokuvuthwa kwaye enze inzuzo kunokuba aqhubeke nokubiza inzala. Esi sigqibo kufuneka senziwe ngononophelo, njengoko ingeniso yentengiselwano inokuphinda ibuyiswe kumazinga enzala asezantsi.
Kufuneka baqonde ilahleko ngerhafu. Ukuthengisa utyalomali kwilahleko kunokuba sisicwangciso sokucutha ifuthe lerhafu yengeniso yotyalo mali. Ukutshintshwa kwebhondi kunokukunceda ufezekise injongo yezemali ngaphandle kokutshintsha iprofayili esisiseko kwipotifoliyo yakho. Bayifezekisile injongo yabo yokubuya. Abanye abatyali mali batyala imali kwiibhondi ngenjongo yokufumana imbuyekezo epheleleyo, okanye umvuzo kunye nokudumisa imali okanye ukukhula. Ukufezekisa uxabiso lwenkunzi kufuna ukuba umtyali mali athengise utyalomali ngaphezulu kwexabiso lokuthenga xa imakethi iveza ithuba.
Isivuno esipheleleyo
Sebenzisa iibhondi ukutyala imali kwimbuyekezo iyonke, okanye indibaniselwano yokuxabisa imali (ukukhula) kunye nengeniso, kufuna isicwangciso esisebenzayo seshishini kunye nokuqonda kwicala loqoqosho kunye namazinga enzala. Abatyalomali ababuyayo bafuna ukuthenga ibhondi xa ixabiso lisezantsi kwaye bathengise xa ixabiso liphakanyisiwe, kunokuba ubambe ibhondi kude kube kukhula.
Amaxabiso ebond ayawa xa inzala inyuka, ngesiqhelo xa uqoqosho lukhawuleza. Zihlala zinyuka xa amaxabiso enzala esihla, ngesiqhelo xa iFederal Reserve izama ukukhuthaza ukukhula koqoqosho emva koqoqosho. Kumacandelo ahlukeneyo kwimarike yebhondi, iyantlukwano kunikezelo nakwimfuno kunokudala amathuba oshishino exeshana.
Ixesha elizayo ezahlukeneyo, iinketho kunye neziphumo zinokusetyenziselwa ukuphumeza iimbono ezahlukeneyo zentengiso okanye ukuthintela umngcipheko kutyalo mali lweebhondi ezahlukeneyo. Abatyalomali kufuneka banonophele ukuze baqonde iindleko kunye nomngcipheko wezi ndlela ngaphambi kokuzibophelela kwingxowa-mali.
Ezinye iimali zebond zineenjongo zokubuya kutyalo mali, zinika abatyali mali ithuba lokuxhamla kwimarike yeebhondi kunye nokushiya izigqibo zemihla ngemihla ezandleni zabaphathi beengxowa-mali.
Imisebenzi yabatyali mali
Imarike yemasheya yaseSpain ithengiswe ngerUmahluko okhoyo I-30.607,2 yezigidi ze-euro ngo-Epreli, i-37,6% engaphantsi kwenyanga enye yonyaka ophelileyo. Imali eqokelelweyo ngonyaka ibime kwi-160.263,6 yezigidi ze-euro, i-1,7% ngaphezulu konyaka ophelileyo. Inani lothethathethwano ngo-Epreli yayizizigidi ezi-3,4, i-18,1% ngaphezulu kunango-Epreli 2019. Inani leengxoxo eziqokelelweyo kwiinyanga ezine zokuqala zonyaka zifikelela kwizigidi ezili-18,6, ezimele ukonyuka konyaka ngonyaka ngama-49,6%.
Ngo-Epreli, i-BME ifumene isabelo sentengiso esingama-77,97% kurhwebo lwezokhuseleko lwaseSpain. Uluhlu olumndilili ngo-Epreli yayili-10,20 yamanqaku esiseko kwinqanaba lokuqala lexabiso (i-7% ibhetele kunendawo yokurhweba elandelayo) kunye neendawo zesiseko ze-15,42 ngobunzulu be-euro ezingama-25.000 kwincwadi yoku-odola (iipesenti ezingama-20 ngcono), ngokwengxelo ezimeleyo yeLiquidMetrix . Kwelinye icala, kufanele ukuba kuqatshelwe ukuba la manani abandakanya ikhontrakthi eyenziweyo kumaziko orhwebo, kokubini kwincwadi yoku-odola ebonakalayo (i-LIT), kubandakanya nefandesi, kunye nothethathethwano olungelulo elubala (mnyama) olwenziwe ngaphandle kwencwadi.
Ukuthengisa okufutshane akuvumelekanga
Ngelixa kwelinye icala, kufanele kuqatshelwe ukuba ukusukela nge-17 ka-Matshi, i-CNMV iyakwalela umgaqo-siseko okanye ukonyusa izithuba ezimfutshane kwezokhuseleko ezamkelweyo kwimakethi yaseSpain kangangenyanga enye emva kothintelo lokuqala ngoMatshi 13. Nge-15 ka-Epreli 2020, i-CNMV ivumile ukwandisa eli nyathelo kude kube ngoMeyi 18. Kukwakho nokuncipha kwemali ezinkontileka kwiibhloko ngenyanga ka-Epreli.
Kwesinye isigxina, kufanele ukuba kuchazwe ukuba umthamo opheleleyo otyikitywe ngo-Epreli kwimali esisigxina yayingama-31.664,7 yezigidi zeerandi, nto leyo ebonisa ukukhula kwe-14% xa kuthelekiswa kwinyanga ephelileyo. Ukwamkelwa kurhwebo, kubandakanya nemicimbi yeTyala loLuntu kunye neNgeniso eLungisiweyo yaBucala, yaba yi-56.271,6 yezigidi zeerandi, ukonyuka kwama-32% xa kuthelekiswa noMatshi kunye ne-154,4% xa kuthelekiswa no-Epreli 2019. Ibhalansi engekahlawulwa ime kwi-1,6 yezigidi zeerandi, oko kuthetha ukunyuka ye-3,1% ukuza kuthi ga ngoku kulo nyaka.
Intengiso ye Iziphumo zezemali I-BME igcine ukukhula kwezorhwebo kunyaka oqokelelweyo, inyuke nge-20,2% kunye nama-55,9% kwi-Futures kwi-IBEX 35 nakwi-Mini IBEX 35 ngokwahlukeneyo. Umthamo wokukhethwa kweStock ukhule ukuya ku-Epreli ngama-52,7%. Ngexesha lokuhlalutywa, urhwebo lwehlile xa kuthelekiswa nenyanga enye yonyaka ophelileyo. Kwixa elizayo kwi-IBEX 35 yawa ngama-29%, kukhetho kwi-IBEX 35, 57% nakukhetho kwiZabelo, 48,8%.