ECB



Mario Draghi

ECB seeks “full QE implementation”

MADRID | June 3, 2015 | So far, monetary policy stimulus is working as planned, ECB’s president Mario Draghi insisted on Wednesday, and the bond buying program needs to reach full implementation until September 2016. The central lender rules out any earlier taper and will keep rates on hold.



Difference between Net issuance of bonds and ECB purchases in 2015

ECB purchases will reduce the size of the tradable sovereign bond markets

MADRID | May 14, 2015 | BNP Paribas | Net issuance of sovereign bonds will exceed ECB purchases in May by c.EUR50bn. We believe this is why yields are going up. We also believe this is why they will come down again from June when ECB QE will again significantly outpace sovereign bond issuances (by c. EUR8bn in June and EUR90bn in July) 



10y govt bond yield compression

BNP sees risks in QE implementation

The Corner | April 30, 2015 | For BNP Paribas analysts Mario Draghi will find it increasingly difficult over the next few months to execute its planned EUR45bn monthly purchases of sovereign bonds.




ECB

Euro area: Don’t fight the ECB

LONDON | April 21, 2015 | Barclays | The ECB remains committed to deliver its QE target of a more than €1.1trn balance sheet expansion through asset purchases and sought to dispel fears over asset scarcity.