ECB to reveal details on TLTRO 3?

Jun. 06, 2019 5:17 AM ETFXE, ERO-OLD, URR, DRR, ULE, EUO, EUFX, DEUR, UEURBy: Yoel Minkoff, SA News Editor2 Comments
  • The European Central Bank announced its easy-money exit strategy one year ago, but twelve months on, the world couldn't look more different.
  • With dovish policy signals being broadcast across the globe, the ECB's Governing Council meeting in Vilnius will be the event of the day.
  • Traders are now betting on a cut in the next year, only months after a raise had been the consensus, and hopes are high for more details on what its renewed TLTRO program will look like.
  • "The conceivable range for the spread (for the negative rate) is between 0 bps and -40 bps," said Natixis's Dirk Schumacher. "A small spread would imply that the new TLTROs are predominantly meant to provide a backstop. A high spread would signal that the ECB sees a need to stimulate bank lending."
  • Euro +0.2% to $1.1237.

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