The ECB cannot do the governments’ jobs.
Gentlemen, Start Your Presses
The age of truly easy money may be just getting started.
Gold Glitters
The biggest winners thus far that may have resulted from the newly communicated intentions from central banks are not the euro or the broad stock markets, but rather gold and gold-related investments.
ECB – on the slippery slope
The ECB is now on a slippery slope from which it may have difficulty extricating itself, especially if the ECB balance sheet swells substantially due to OMT.
Draghi Acts: Is It Inflationary?
Despite the overwhelming evidence that money printing doesn’t work, the Eurozone overlords will to do it anyway.
September 12th Looms Large for Germany
In the past, the German Constitutional Court has not shown itself to be a political pushover.
ECB: The final countdown?
Will the ECB stop buying as conditions have not been met or will it justify further purchases since the market demands higher premia, because of increased – but intolerable – convertibility risk?
ECB – Deflating exaggerated expectations
Even if the ECB joins forces with the EFSF/ESM in buying government bonds its mandate, with price stability as the primary objective, will ultimately put a lid on the size of its interventions.
Promises, Promises
Draghi and Bernanke know that markets need to be talked up, and they continue to do so unapologetically.
I think you can consider Spain shut out of the debt markets
I wouldn’t trust anything now until they have a program in place with the ECB.
Super Mario
Will Super Mario Save the euro?… (cartoon)
All Hands on Deck or Abandon Ship for the EU
It’s time For Europe to stop screwing around.
Solidarity Euro-Style
I would like to call upon northern European governments to cease and desist from more ‘solidarity’ offerings to our fiscally-stricken, fast impoverishing nations.
Why shorting Spanish and Italian Bonds is the Right Trade
I continue to believe that longer dated Spanish and Italian bonds are poised for a significant sell-off.
EU bank funding eases but risks remain
The ECB’s two LTROs had vastly lifted market sentiment and made refinancing at reasonable rates possible again for EU banks.
Why the Buba wants to exit
The ECB’s non-standard monetary policy measures were taken to deal with problems in the financial sector and not to extend monetary policy easing beyond interest rate cuts.
ECB – Playing Mr. Cool
Mr. Draghi displayed great finesse in pooh-poohing the apparent rift with the Bundesbank regarding the volume of the LTROs.
Swiss FX Policy, ETF Regulation & The ECB Can’t Please Everybody
Deutsche Bank Research commentary on Swiss FX policy, ETF regulation and the ECB.
Would a Ponzi by any other name smell as bad?
Asides from giving Ponzi a bad name (at least until the ECB just admits that they are printing faster than even Big Ben) this is tying the banks and the countries ever closer.
Print, Rally, Then What?
As the ECB prints and the Euro declines and inflation rises, then what?
