business debt

Draghi niceTC

A Minority View On ECB’s Decision: Put Corporate Debt

Markets are trying to glean any hint about whether or not the ECB will confirm additional stimulus during its monthly meeting today. Most analysts forecast a QE reinforcement in quantity, as well as in term, before year-end or in 2016. But there is also a minority who bet on the central bank just adding corporate debt to the cocktail.

No Picture

Monday’s graph: improvement in gross debt ratio of Spain’s private sector

International Financial Analysts Afi brought to our attention this chart from 2011 financial accounts in Spain, which confirm that ratio of gross debt (loans and different security prices) of households and businesses in Spain has dropped by 13.5 percentage points of GDP. The figure is now 216pc, down from the maximum levels reached during the second quarter in 2010. It also reflects the downturn in indebtedness operations during last year,…