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Early Response To LTRO Muted

The ECB printed a little more money than the market’s expectations, but well within the expected range. As shown below, the DAX has given back about 60% of this morning’s early gains. Most markets are either up a little or down a little - nothing dramatic either way.
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ECB's 3Y LTRO Huge Demand

Business & Finance : Zero Hedge (3 years ago)

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 L... Read Post

Market has Now Fully Priced In Another 1 Trillion LTRO

Business & Finance : Zero Hedge (2 years ago)

Just over a month ago we laid out the market's key indicator for whether NEW QE (or the just as fungible LTRO / unsterilized money printing from Europe) was likely. The 5Y5Y forward inflation expectation has been invaluable in front... Read Post

Near-Term FX Views and More

Business & Finance : Zero Hedge (19 hours ago)

The US dollar extended its gains against all the major currencies and most emerging market currencies over the past week. The ECB's asset purchase program was a key driver, but the euro, though it fell a little more than 5.5 cents f... Read Post

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