Rates: The ECB has had enough of rising bond yields as it announced a faster pace of QE.
The Governing Council: – First, the Governing Council will continue to conduct net asset purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of €1,850 billion until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over. Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects purchases under the PEPP over the next quarter to be conducted at a significantly higher pace than during the first months of this year.
The announcement sent Bund yields lower.
Equities: Where’s my check, bro?
Eurozone: Growth and inflation forecasts were little changed in the latest ECB release. Here is a comparison with the projections from Oxford Economics.
United States: January job openings were stronger than expected.
Global Developments: What kind of assistance did governments provide for small firms during the pandemic?
Food For Thought: How much have you heard about the following?
Edited by Devon Lall
Contact the Daily Shot Editor: Editor@DailyShotLetter.com