Analysts Respond To “Unsourced” Reports Of Open-Ended ECB Monetization
Monday, August 20, 2012 8:22
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from Zero Hedge
For whatever reason, yesterday’s unsourced Spiegel report that the ECB is actually contemplating open-ended monetization with arbitrary yield targets on various European nations is the talk of the town, if only for a few more hours until, just like last year, the proposal is summarily dismissed, only to be reincarnated once Spanish yields pass north of 8% again. In the meantime, it has allowed those very well paid sell-side strategists to present their erudite opinions, which naturally do not matter in the grand (and not so grand) scheme of things as long as Germany sticks to the 9-9-9 plan.
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2012-08-20 08:10:10
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