ECB Preview
Submitted by Newsquawk PREVIEW: ECB Policy Announcement, 21st January 2021 ECB policy announcement due Thursday 21st January; rate decision at 12:45GMT/07:45EST, press conference 13:30GMT/08:30EST No adjustments are expected to current policy settings The meeting will offer policymakers an opportunity to take stock of existing measures and comment on the economic outlook OVERVIEW: After unveiling a…
Saxo's Chart Of The Week: ECB Systemic Risk Indicator
By Christopher Dembik, head of macro analysis at Saxo Bank This is certainly the most important chart ahead of Thursday’s ECB meeting. Initially developed by Hollo, Kremer and Lo Duca in 2012 in the midst of the euro area sovereign debt crisis, the ECB systemic risk indicator is based on fifteen financial stress measures and…
Lagarde Pushes ECB To Shun Fossil Fuel Bonds As Central Banks Embrace "Green" Future
Later this year, the ECB will meet for a grand strategy review. Expected to be one of the most consequential policy reviews for years to come, the central bank could opt for changes to its inflation target (some doves have proposed following in the footsteps of the Fed by loosening the ECB’s inflation target) as…
High Noon At The ECB Corral
By Reza Moghadam, chief economic advisor at Morgan Stanley International High Noon at the ECB Corral European policymakers, often paralyzed by divisions, finished 2020 on a high note. They finalized the €750 billion European recovery fund, agreed to ambitious climate goals (a focus of fiscal spending), and announced new measures to ensure easy financing conditions…
Record 41% Of European IG Bonds Have Negative Yields As ECB Buys Quarter Of All Eligible Corporate Bonds
As we showed last week (in 20 charts) while 2020 was certainly an unforgettable year for stocks, it was actually credit where the real action was – or as Goldman put it “a year like no other” – for two reasons: i) the direct injection of over $10 trillion in liquidity by central banks in…
ECB Boosts QE By €500BN, Euro Jumps On Lack Of Dovish Surprises
As previewed earlier, the ECB announced that in order to arrest Europe’s economic double dip, it will expand its PEPP (pandemic emergency purchase programme) QE by €500BN (as expected), will extend the duration of the PEPP through March 2022 (it was expected to end 2021); calibrates TLTRO further by adding three more operations in 2021…
Euro Surges To 18 Month High Amid Speculation ECB Is “Out Of Policy Tools”
While many have focused on the ongoing collapse of the dollar, a big reason for the persistent weakness in the greenback, which is now below the Nov 9 “Pfizer vaccine” level… … is the grind higher in the EURUSD which this morning hit 1.2168, the highest since April 2019, and a level well above the…
ECB Secretly Made “Dozens” Of Private Calls To Select Investors After Lagarde Announcement Debacles
One of the biggest lies that has bizarrely persisted over the past century is that central banks are somehow working on behalf of “the people.” Nothing could be further from the truth, unless of course one’s definition of “people” are those high net worth individuals with a net worth in the millions. And while we…