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Today's swap move explained: The ECB (for example) can sell euros to the Fed in exchange for...

  • Wednesday, November 30, 2011, 9:00 AM ET
    Today's swap move explained: The ECB (for example) can sell euros to the Fed in exchange for dollars at the prevailing market rate, at the same time agreeing to buy back said euros at the same rate. The swap refers to the cost to the ECB for doing such, and today's action lowers it 50 bps. "It's a global effort to add dollar liquidity," writes Quint Tatro, hence, dollar down, assets up.
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This news story has 3 comments:

  •  
    Chasing debt with more debt. The shell game continues.
    30 Nov 2011, 09:04 AM Reply Like
  •  
    And none of this massive influx of money will hurt the poor schlep who has to but groceries will it?
    30 Nov 2011, 09:07 AM Reply Like
  •  
    Of course not. Saving bankrupt banks and corrupted nations is far more important to this class of economic thug.
    30 Nov 2011, 09:12 AM Reply Like
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