ECB bazooka shot gives momentary lift to markets

  • The ECB roughly one hour ago announced a near-doubling in the size of its QE program to €1.35T, and extended it to June 2021.
  • The announcement for a few minutes sent European shares and U.S. stock index futures higher, but unlimited central bank stimulus is pretty much a given at this point. The Stoxx 600 has returned to its previous level, down 0.4%; U.S. futures have retraced as well, the S&P 500 down 0.3%.
  • Related ETFs: VGK, FEZ, HEDJ, EZU, IEV, IEUR, EURL, EPV, SPEU, DBEU, EEA, HEZU

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