With expectations around EUR300bn, the EUR489bn print is well above expectations.
ECB ALLOTS EU 29.7BLN IN 98 DAY REFINANCING TENDER
ECB AWARDS EU489 BLN IN THREE-YEAR LOANS VS EST EU293 BLN
ECB SAYS 523 BANKS ASKED FOR THREE-YEAR LOANS
The initial reaction seems to be risk on as EUR is rallying. Gold and Silver are also rallying. Stocks and CONTEXT rallying but BTPs not reacting aggressively yet.
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The euro just fell to its lows of the day. According to Bloomberg, the ECB is saying that European banks will be repaying just €61.1 billion worth of loans from the second tranche of the long-term refinancing operations (LTRO). Thes... Read Post
By EconMatters The recent massive demand for ECB's LTRO (Long Term Refinancing Operation)--nearly 490 billion euro in three-year 1% loans from 523 banks--only confirmed the suspicion of some market participants that European banks a... Read Post
The results for the second European 3 year discount window operation, pardon LTRO are in, and the winner is... ECB ALLOTS EU 529.5BLN IN 1,092 DAY REFINANCING TENDER ECB SAYS 800 BANKS ASKED FOR THREE-YEAR LOANS Since the expected r... Read Post