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Investors hoping for the bond-buying bazooka to be brought out at this Thursday's ECB meeting...

Investors hoping for the bond-buying bazooka to be brought out at this Thursday's ECB meeting are "getting ahead of themselves," writes Vince Cignarella. Draghi's hint at such was unilateral and he still faces big obstacles - namely the Northern crowd on the Governing Council (led by the Germans). At best Thursday will bring a 50 bp cut in the benchmark rate (to 0.25%) and another LTRO.
Comments (2)
  • I agree; the prospect of another LTRO is higher than outright large-scale bond buying. I also expect the Fed to continue its swaps to support. This will lift markets, but how much and for how long?
    31 Jul 2012, 03:01 PM Reply Like
  • Like all politicians they are hoping to delay the inevitable long enough to get re-elected or to be able to bail their Bankster buds out in hopes , no doubt, of a nice fat payoff.
    31 Jul 2012, 03:25 PM Reply Like
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