No surprises out of the ECB. They’re due to stop the madness in December of 2017, and then beginning hiking in April of 2018 — based off market odds.
Instant reaction as ECB keeps its policy settings unchanged https://t.co/NZRYmzD2Ba pic.twitter.com/dv9rj0tcX9
— Bloomberg (@business) April 27, 2017
Markets see 1st #ECB hike at end-Apr 2018 meeting. Looks a bit too hawkish as Praet, Constancio & Co. have been clear: QE first, then rates. pic.twitter.com/bHs2aCKQsR
— Holger Zschaepitz (@Schuldensuehner) April 27, 2017
Separately, WTI is getting hammered, off by 2%. I wouldn’t base this move off the inventory numbers. The fact of the matter is, crude has been weak and ebbing lower for months now. Perhaps we need a flush out to price in a hard bottom.
Dow futures are +33.
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Hilarious: Markets see 1st #ECB hike at end-Apr 2018 meeting and that looks a bit too hawkish.
Fuck me, an arbitrary rate hike a year from now is hawkish. Nobody knows how the markets will be rigged tomorrow but hey, let’s talk about rate hike a year from now.