Negative rates not the end of moves for the ECB

|By:, SA News Editor

Seemingly setting the stage for QE, Mario Draghi - beginning his post-ECB policy meeting press conference - says the central bank wii stop sterilizing its previous bond purchases made under the Securities Market Program (SMP).

"The governing council is committed to using unconventional measures if there is too long a period of too low inflation." Among the moves are targeted LTROs and purchases of asset-backed securities.

The Stoxx 50 (FEZ) is ahead 1.5% now, and the euro -0.7%.

ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, ULE, EUFX, ADRU, URR, FEEU, EURL, EURZ, FIEU, DBEU

Also with their tail in the air are U.S. futures, the S&P 500 (SPYup 0.4% after being flat earlier, and U.S. Treasury yields - the 10-year jumps to 2.64% from 2.57% earlier.

ETFs: SPY, SH, TBT, TLT, SSO, SDS, VOO, IVV, SPXU, UPRO, TMV, SPXL, RSP, TBF, RWL, EPS, EDV, TMF, TTT, ZROZ, SBND, TLH, BXUB, DLBS, VGLT, UBT, TLO, SFLA, SPLX, BXUC, TENZ, LBND, TYBS, SPUU, DLBL

Previously: ECB goes negative