Posted To: MBS Commentary
Global financial markets have been engaged to the idea of sovereign QE from the European Central Bank for nearly a year. After yesterday’s Swiss surprise, they’re just about married to it. What we’ve seen in markets during the first part of January has been akin to the emotionally charged time frame surrounding a wedding. Yesterday would be the day when your loud, drunk Uncle Thomas (coincidentally, the same first name as the Swiss National Bank President) stood up and made some unintelligible rant. No one expected uncle Thomas to have such an outburst, and it certainly shook the wedding guests. But the show must go on. Still, guests wonder what had Thomas spooked enough to make such an outburst. Maybe he’s knows something they don’t know. Some have concluded he thinks the…(read more)
Via:: MBS MID-DAY: Seemingly Wild Ride for Bond Markets all Part of ECB QE Courtship
