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nasprotno pa realizirana volatilnost odraža zaznano negotovost , ki prevladuje na trgu .
3 the implied volatility used for this box is derived from options on three-month futures contracts with a constant six months to maturity . ecb annual report 2007
potem je implicitna volatilnost v euroobmočju ostala v glavnem nespremenjena na teh visokih ravneh.
in some limited cases, the losses from such exposures even endangered the financial health of the institutions concerned.
glede na neenakomeren potek okrevanja je smiselno odmisliti četrtletno volatilnost in primerjati polletne stopnje rasti.
given this uneven pattern, it is more appropriate to look through the quarterly volatility and to compare growth developments on a half-yearly basis.
med januarjem in sredino julija je bila realizirana volatilnost razmeroma nizka in na podobni ravni kot v zadnjih letih.
between january and mid-july realised volatility was relatively low, standing at levels similar to those observed in recent years.
vseeno ostaja negotovost velika, vztrajna volatilnost novih podatkov pa narekuje previdnost pri interpretaciji razpoložljivih informacij.
however, uncertainty remains high and the persistent volatility in incoming data warrants a cautious interpretation of available information.
za takšne tržne dolžniške instrumente bi se moralo uporabiti zmanjšanje vrednosti, ki odraža zgodovinsko volatilnost ustreznih deviznih tečajev.
valuation markdowns reflecting the historical volatility of the relevant exchange rates should be applied to such marketable debt instruments.
po tej seji je implicitna volatilnost vztrajno padala in sledila negativnemu trendu, ki se je obrnil le nekaj dni pred sejo sveta ecb marca 2007.
after this meeting, implied volatility declined steadily following a negative trend which was reversed only a few days prior to the march 2007 meeting of the governing council.
empirični dokazi kažejo, da gibanja imetij vlog dfp povečujejo kratkoročno volatilnost rasti denarja in s tem morda otežujejo oceno temeljne denarne dinamike.
empirical evidence suggests that the developments in deposit holdings of ofis increase the short-term volatility in monetary growth and may thus complicate the assessment of underlying monetary dynamics.
tako so finančni pretresi, ki so izvirali iz težav v ameriškem nepremičninskem sektorju, proti koncu leta povzročili večjo volatilnost na svetovnih obvezniških trgih.
in particular, the financial turmoil emanating from problems in the us real estate sector led to heightened volatility in the global bond markets in the latter part of the year.
Še več, do začetka marca je poskočila implicitna volatilnost na vseh večjih delniških trgih, kar je verjetno znak precejšnjih popravkov tveganj, povezanih z delniškimi trgi.
supported by the improved business sentiment in the euro area, the industrial sector also outperformed the overall index significantly.
implicitna volatilnost pa se je močno povečala po avgustu, ko so se pojavile napetosti na denarnih in finančnih trgih( glej okvir 2).
however, implied volatilities then increased significantly from august onwards as the tensions in money and financial markets took hold( see box 2).