Nasdaq Futures Soar, ECB Show of Force Reminds, Quelling Worries
"It is one of the most far-reaching federal relief efforts to ever pass Congress and another reason to be confident of the outlook for U.S. equities," said Willem Sels, chief investment officer at HSBC Private Banking and Wealth Management. “We think that the bond market has sold off too much.” ZH
(FT) The European Central Bank has said it will accelerate the pace of its bond buying over the next three months in response to the eurozone’s rising borrowing costs and faltering economic recovery from the coronavirus pandemic.
In its latest monetary policy decision, published on Thursday, the central bank kept its policies unchanged, but said: “Based on a joint assessment of financing conditions and the inflation outlook, the governing council expects purchases under the over the next quarter to be conducted at a significantly higher pace than during the first months of this year.”
The statement came against a backdrop of growing interest among investors and economists about how it will respond to the recent sell-off in bond markets, which risks hampering the single currency bloc’s already-stuttering recovery by pushing up the cost of finance for businesses and households."
initial jobless claims still 4 times higher than pre covid, 20 Million Americans still getting government jobless benefits, ZH
(FT) The European Central Bank has said it will accelerate the pace of its bond buying over the next three months in response to the eurozone’s rising borrowing costs and faltering economic recovery from the coronavirus pandemic.
In its latest monetary policy decision, published on Thursday, the central bank kept its policies unchanged, but said: “Based on a joint assessment of financing conditions and the inflation outlook, the governing council expects purchases under the over the next quarter to be conducted at a significantly higher pace than during the first months of this year.”
The statement came against a backdrop of growing interest among investors and economists about how it will respond to the recent sell-off in bond markets, which risks hampering the single currency bloc’s already-stuttering recovery by pushing up the cost of finance for businesses and households."
initial jobless claims still 4 times higher than pre covid, 20 Million Americans still getting government jobless benefits, ZH
Comment:
It's like governments and central banks have taken the place of AIG, insuring speculative risk. They should have to pay for that. Insurance costs a lot of money..
Comment:
It's looking like the beginning of a longer term downtrend, but we'll have to wait and see..