To infinity and beyond.
Category: ECB
Beware Fallen Angels: One Bank Ponders The Fate Of The European Junk Market
“… it fills us with a lot of fear [and] not just because many central banks would be relatively constrained in their ability to cut rates after their big post-GFC easing.”
Operation Twist – With European Characteristics
If you’re in EGB steepeners, this probably isn’t great news.
Of Euros And Oil
Some notable headlines on a day when markets have seemingly stabilized.
‘Draghi Delivers His Classic’: One Bank’s Take On The ECB And How To Trade It
Dovish rabbit out of a hawkish hat.
ECB Announces September Taper, Will End QE In December, Rates To Remain On Hold Until Summer 2019
And there it is, folks. At least you’ll get €15 billion/month through December and a commitment to keep rates on hold through next June.
The ‘Most Important Week Of The Year’? Full Week Ahead Preview
I doubt it, but as Trump would say, “we’ll see what happens”…
Rome May Be Burning, But Draghi Is No Longer Your Fireman: What To Expect From The ECB
A can kick to next month is about the best you can hope for when it comes to an announcement on the future of QE.
Fate Of ECB QE Hangs In The Balance As Policymakers Say Decision On When To End Program Could Come Next Week
“It’s clear that next week the Governing Council will have to make the assessment.”
All Enemies, Foreign, Domestic, Real And Imagined: Full Week Ahead Preview
Shifting alliances, political turmoil, conspiracy theories and just the usual crazy shit.
Who Really Understands The Risks? It’s Probably Not Who You Think.
I think that gets it backwards.
One Trader Weighs In On ‘The European End Game’
“…we have long passed the point where Germany can walk away from this union. Let’s forget the political implications of an EU collapse (which are considerable and provide a great degree of inertia for the EU remaining together), and instead focus on the fiscal implications.”
‘Triple-Digit Club’: Spanish Stocks, Bonds Slide, Spread To Bunds Hits 100bps As Rajoy Faces No-Confidence Vote
Sorry, Mario. Looks like September is looking less and less feasible.
Sincerely Yours. 😥
Oh well. 😥
One Bank Discovers A ‘Staggering’ Stat Amid Italian Bond Selloff
Witness the power of CSPP.
Can You Say ‘Quantitative Failure’? Fresh Evidence Of Eurozone Economic Deceleration Raises Uncomfortable Questions
Even without the Italian jitters, you do not want to be tightening policy into a slowdown and again, this just underscores the risk inherent in persisting in accommodation for years upon years…
Pulling The Punchbowl When The Espresso Is Hot And The Economy Is Cooling
Some folks are skeptical.
‘Transitory’ Or Not, European Deceleration Raises ‘QF’ Specter, Dreaded ‘Ammo’ Question
Nobody say “quantitative failure”.
‘They’re Still The Largest Sellers Of Vol.’: And So, The Baton Is Passed To Forward Guidance
Remember, “transparency as a way of stabilizing the markets has become a tool of suboptimal control.”
BTP-Bund Spread Widens As Italy All Set To Try Populist Government, Because What Has Ever Gone Wrong With That?
But don’t get any ideas or Draghi will “rip your eyes out”.
More Good News Out Of Eurozone Economy And By ‘Good’, I Mean ‘Bad’
You know that “global slowdown” narrative that seems to be gradually supplanting the “synchronous global growth” meme that dominated in 2017? Yeah, so that was reinforced a bit on Monday.
‘Bonds, Bonds, Everywhere!’
“At what price?”
Spiraling Down The Rabbit Hole: What Happens When The Ammo Is Gone?
Down the rabbit hole you go.
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