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.
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
It seems the FX market is just a little edgy this morning. A few brief words from ECB member Benoit Coeure on the possibility of short-term LTRO repayment (if rates are cut to negative) appears to have reminded traders that LTRO doe... Read Post