Posted To: MBS Commentary
2 months ago, today's European Central Bank announcement looked like it would be a big deal insofar as it would be the venue for the ECB's first official comment on the fate of its bond buying program (set to expire in December). In recent weeks, anxiety over ECB policy has faded for 2 reasons: Draghi and other officials have been offering reassurance, and a combination of geopolitical risk and fiscal policy concerns have moved into the spotlight for US markets. Even with the ECB being generally removed from its previous pedestal, the event still proved to be a market mover for US bond markets today. Not only did the ECB reiterate its bond-friendly messages, but it went a step further in revising inflation forecasts lower. ECB President Draghi did very little to downplay the bond-friendly...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2eKCrZH
No comments:
Post a Comment