Thursday, August 16, 2012

What Mario Draghi strategy for European crisis

What Mario Draghi strategy for European crisis : Draghi says various non-standard measures will be reviewed and sees a list of options.. The market clearly doesn't like the uncertain scenario as policymakers seem to be borrowing more and more time whilst last week's comments suggested that a "done deal" could have been presented today

"Some details on the possible additional non-standard measures, which make them different from the SMP. Draghi said that the market operations will be transparent, with details on the amount and countries. In addition, market operations will be focused on the short end of the curves."

Traders and investors who expected immediate action are, and should be, disappointed. More scolding of governments, but no ECB action, is the bottom line."

"If the ECB does act, President Draghi said intervention in the bond market will be at the short end of the yield curve. Prices of long-term Spanish and Italian bonds would not be supported; yields traded up after this comment."

What Best Mario Draghi strategy for European crisis ?

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