Interest Rates Drop on Threat of ECB Action
ECB President Mario Draghi has not backed away from his assertion that the bank can buy the short-term paper of Europe’s weakest nations. Some of his allies were worried that the resignation of Bundesbank President Jens Weidmann would help forces that want to hold…
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The belief that Draghi is about to act has brought interest rates down quickly. According to MarketWatch:
Short-dated Spanish and Italian government debt rallied sharply, dragging down yields and steepening yield curves Tuesday, a day after European Central Bank President Mario Draghi indicated a new bond-buying plan could embrace debt with maturities of up to three years without violating the prohibition on central-bank financing of government borrowing.
Douglas A. McIntyre
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
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