RSS feedcredit easing
’ECB bond-buying, 2010-2011: in memoriam
There is no body, but we fear the Securities Market Programme (current holdings: €75bn) has been killed off.
Something to inscribe on the tombstone:
Those are TradeWeb charts of bid-offer spreads on Portuguese and Irish bonds,
Godzilla QE
Either Willem Buiter is setting out to shock, or he really is worried about Japanese deflation this time.
Because Citi’s chief economist really is thinking BIG on what to do about it:
The 5trn yen ($60bn) additional QE announced recently by the BoJ is far too small to achieve anything,
The slippery slope to non-sterilisation
QE or QE?
The ECB announced over the weekend it would begin buying government and private sector bonds — leading to accusations that it was embarking on Federal Reserve and Bank of England-style quantitative easing.
Something is rotten in the state of Denmark. And Ireland. And Spain.
And the ECB will direct it. Ha.
As we mentioned earlier on Friday, UBS analysts John-Paul Crutchley and Alastair Ryan have been looking at the European banking landscape afresh — specifically in relation to the credit support ops of the European Central Bank.
The ECB as ‘liquidity monster’
An elegant note out from UBS analysts John Paul Crutchley and Alastair Ryan on Friday — discussing the perils of the European Central Bank’s liquidity ops.
Here’s the crux of the problem, according to UBS:
Fed purchase lockdown
Zero Hedge is at it again. Having brought the world’s attention — rightly or wrongly — to the growing clout of high frequency trading in equity markets, the anonymous blog started last month to turn readers’ attention to the Fed’s permanent open market operations focused on Treasury and agency securities.