Posted To: MBS Commentary
The ECB released a policy announcement this morning. They weren't expected to make any significant changes and indeed they made none. Well, to be fair, they did remove a line about increasing bond purchases if the outlook worsened and there was a very small reaction at first (rates moved higher--mostly in Europe). But Draghi's press conference--which is really what it's all about when it comes to ECB announcements--took bonds in the other direction. Draghi didn't say anything incredibly significant, but 2 comments resulted in noticeable upticks in volume and buying demand: Comment 1: DRAGHI SAYS DECISION DOESN'T SIGNAL CHANGE IN EXPECTATIONS OR REACTION FUNCTION Comment 2: DRAGHI SAYS THERE WASN'T MUCH DISCUSSION ABOUT OTHER POSSIBLE CHANGES The first comment was meant...(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/2FzTtsD
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