ECB purchases/next week will include step up

For purchases settled as of Friday Nov 11th, the ECB bought 4.478b euros of sovereign bonds, down from 9.52b for the week prior. Because this is only measuring actual settlement of the transactions, it doesn’t include the aggressive buying last Thursday and Friday following the spike in yields on Wednesday. Thus, we have to wait until next Monday to see what will likely be a large step in the amount of their purchases. All will be sterilized though and the ECB will remain as being seen as a non money printing central bank institution, in contrast to their friends at the Fed, SNB, BOE and BoJ.

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