This should be interesting.
There’s good news and bad news. Which do you want first?
And that’s the week.
Ok, with that out of the way, here are the key projections…
A snowy hike and so much more.
“This is the big one, Elizabeth!”
“It feels like yesterday will be as good as the news gets once investors start thinking about it.”
“It looks like the ECB is managing a taper without a tantrum. For the first time in many meetings we got a truly different policy statement and one that seems to strike a pretty good balance between the hawks and the doves.”
“From January 2018 the net asset purchases are intended to continue at a monthly pace of €30 billion until the end of September 2018, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.”
“Against this benign environment, the key risk isn’t that the ECB is going to set off a sustained bond bear market.”
Whither the common currency…
Let Mario Draghi just be “clear”: he is not convinced that you are convinced that asset prices only go up, ok? Responding to a question from CNBC at a press conference at the IMF Annual Meetings in Washington on Saturday, the ECB chief said something to that effect. Specifically, this is the quote: Let me…
Just one more day of this before the weekend, when we’ll all get to put up the plywood and hide in the basement as Irma turns Florida into Atlantis and Kim turns Tokyo into Dresden…
“At the same time, the recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium-term outlook for price stability.”
But you’ve got to think Mario Draghi isn’t looking forward to Thursday’s presser.
Although no one expected any actual change to policy rates or the APP, markets are expecting quite a lot in terms of outright jawboning, telepathy, side-eyes, winks, nods, or really anything at all to suggest that the ECB is going to try and keep a lid on euro strength and/or is prepping an exit plan from stimulus.