Vývoj úrokových sazeb státních dluhopisů denominovaných v eurech

Abstract

The theme of the Bachelor thesis is to evaluate the evolution of interest rates of government bonds denominated in euro. The main goal is to quantify the relationship of linear dependence between the development in interest rates of government bonds selected eight countries that have adopted the common european currency. Selected were Greece, Portugal, Ireland, Spain, Italy, Germany, France and Slovakia. Examined period is the period between the years 2002-2011. In the theoretical part is included theoretical definition of the financial markets and bond markets, classification of these markets and their characteristics. There is also described institucional framework for European monetary union and the view of technical literature on the relationship between the common currency and interest rates of government bonds of member countries of monetary union. In the practical part is quantified relationship of linear dependence using correlation analysis for the entire period and after that during the years 2002-2007 and 2008-2011. There are also described reasons for different development since 2008, for this is also used analysis of spreads.