Precisely half an hour ago, we mocked the overnight Reuters trial balloon about ECB corporate bond buying, whose only purpose was to send futures higher, when not only did we question the credibility of the report based on "one person familiar with the work inside the ECB, speaking on condition of anonymity" and said that now "we await Germany to throw up all over what is a clear Reuters trial balloon floated by "one person familiar with the work inside the ECB, speaking on condition of anonymity" to see what the market reaction is to even more stimulus (as if it is unclear)." Well, it wasn't Germany. At least not yet. It was Reuters' competitor in the coverage of ECB rumors and innuendo, the FT, which moments ago blasted this, via Bloomberg:
- ECB SAID NOT TO HAVE PUT CORPORATE BOND BUYING ON AGENDA: FT
So just in case anyone forgot how credible the Reuters rumor mill is when bailing out European risk (think summer of 2011 and 2012), here is a stark reminder.