Relevant:
- The Bond Market Doesn't Believe Draghi
- European shares boosted by Mario Draghi's dovish tone
- The euro crisis is not over and is about to get interesting
- Government Bond & Mortgage "Meltdown" Crushes NIRP
- Mario Draghi: ECB prepared to cut interest rates and expand QE (AKA "DO WHATEVER IT TAKES 2.0"...)
2012-09-07 — nakedcapitalism.com
On Thursday, ECB chief Mario Draghi announced a bond-buying program that had been largely leaked the day prior, namely that of a new bond buying program, the Outright Monetary Transactions, or OMT. Bond yields in Italy and Spain had already come down on the rumor, and stock markets around the world rallied on the news.
The enthusiasm appears overdone when you look at the sketchy details.
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