Things just got hard for traders in Europe, after ECB head, Mario Draghi, declined to prolong his degenerate streak of bond buying idiocy, which is scheduled to expire in March of 2017.
LATEST: ECB has lowered inflation and GDP growth estimates slightly, Mario Draghi says https://t.co/MsiBd9VbOX pic.twitter.com/eUSqcNNkKV
— Bloomberg TV (@BloombergTV) September 8, 2016
He said inflation targets were on track and that the discussion of extending the bond buying program hadn’t been broached. These words are having a deleterious effect on European markets and German bunds, as well as providing a sharp lift in the euro.
Yes, that’s a 5bps move in bunds.
This is all trial balloon shit, people. The ECB is merely trying to gauge market reaction by removing the heroin needle from the arms of traders. Should markets get dicey, these fuckers will go right back to rigging markets, rest assured.
My views on rigged markets is somewhat sanguine. Although I despise it and equate it to cheating and believe it sends out the wrong signal to people, it hasn’t been proven it could fail yet. In other words, markets will continue to get rigged as long as the riggers are free to get away with it and moral hazard doesn’t bear down on economies.
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Would be lovely if this serene calm was to end, but I can’t see the ECB being the impetus for that.
Maybe Hillary’s random presser that is supposed to start any minute now?
is it kaboom time yet?
Guess the germans finally took away mario’s punchbowl and Killary is on the ropes with all her enemies ready to pile on. The Killary foundation as most foundations are just tax evasion tools for the elite. The bleeding heart liberal turns out to be just a marketing act as they steal from the middle class.
fly you want moral hazard. sub prime auto loans are on deck, muni bonds and student loans are next in line.
No Coke !!!