Now we’ll wait on the press conference.
Category: mario draghi
Drivers Wanted: Full Week Ahead Preview
Pick a catalyst, any catalyst.
ECB Sticks With ‘At Least Through Summer 2019’ Rates Guidance
It’s all fun and games unless Italy blows up the budget.
R.I.P. Irony: Italy Will Ask ECB To Create New QE Program In Anticipation Of E.U. Budget Fight
“If the ECB covers you, markets can’t speculate because they don’t make money.”
‘Liquidity Vanishes’ Is The New ‘Too Much Liquidity’
“It’s not trade wars or an equity market correction that look to be keeping credit investors up at night”…
ECB Leaves It All Unchanged As Market Looks For Clues On What The Word ‘Summer’ Means
“It depends on what the meaning of the word ‘ is’ is.
Elephant In The Room: Full Week Ahead Preview
Just try to ignore it.
The ECB Needs You To Know They Are A Flexible Body Capable Of Servicing Your Needs In Creative Ways
“…communication had to strike a careful balance between anticipating a termination of net asset purchases by the end of December 2018 and highlighting the continued commitment to providing sufficient monetary stimulus for as long as necessary.”
2021: A NIRP Odyssey (Or, ‘Panic’)
To infinity and beyond.
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.
‘It Doesn’t Take A Genius To See What’s Coming’: Amid Daimler News, Albert Edwards Warns On Auto Tariffs
“Trump has previously expressed his disdain at German luxury brands, particularly Mercedes, and its prominence on New York’s Fifth Avenue. Autocar has reported that Trump has said he would tax Mercedes models off Fifth Avenue!”
Meet Me In Sintra And Mind The Oil Slick: Full Week Ahead Preview
Ironies, cartels and trade wars.
‘Draghi Delivers His Classic’: One Bank’s Take On The ECB And How To Trade It
Dovish rabbit out of a hawkish hat.
When Doves Try.
This is what it sounds like.
Draghi Sticks Impossible Dismount, Puts Dovish Spin On QE Expiration Date While Simultaneously Adopting Date-Based Rates Guidance
Well, say what you will about the relative merits of Jerome Powell’s “plain English” approach to press conferences, but Mario Draghi just delivered a clinic in how to do this “right.”
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.
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.
Back To 2011? Not Exactly.
Don’t panic.
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.”
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…
A Not-So-Brave New World: What’s The Difference Between Markets During QE And Now?
Any bids on BTPs and/or the lira?
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”.
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”.
Here Are The 3 Reasons Why Mario Draghi Should Worry
…if you wait too long and the cycle turns on you while you’re still sitting in NIRP with a bloated balance sheet, well then where do you go from there?
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