CSPP program

European banks

The ECB Corporate QE’s Charm Is In The Details

AXA IM | The technical details of the ECB’s corporate QE programme, the corporate sector purchasing programme (CSPP), released last Thursday, cemented our constructive view about its impact on credit markets. The CSPP details matched or exceeded market expectations, adding to the positive spread momentum that has been in motion since the initial CSPP announcement on 9 March.