IIFT Daily Note with Peter Brown

What do you think Draghi?

Posted by:  |  Time: 7:09 am  |  Topic:
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Mario Draghi has his first press conference today. In the short term the ECB is the only institution that can calm and fix this market. We have heard from Germany that the ECB will not be allowed to engage in massive bond buying. If Draghi confirms this the market is liable to take it very badly.

Watch Spainish bond yields, heading towards 7%.

This is a Friday, could be a huge selloff if things go wrong.

Can’t emphasise enough how important Draghi’s comments are going to be.

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