Last Week The ECB Bought A Whopping €2.7 Billion In Sovereign Bonds

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Mon, 12/13/2010 - 10:43 | 801412 Leo Kolivakis
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Call it P-envy (POMO envy)! :)

Mon, 12/13/2010 - 10:58 | 801441 Shameful
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How could Trichet look across the pond at Zimbabwe Ben and not feel a little envy at "Big Ben"?  POMO: Bigger, Longer, and Uncut!

Mon, 12/13/2010 - 11:10 | 801457 mikla
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Mon, 12/13/2010 - 10:44 | 801416 gwar5
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The Trichet Bernank?

Mon, 12/13/2010 - 10:45 | 801421 SheepDog-One
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ECB Europes Copy of Bernanke? Monetize the whole world FLOAT this bitch a bit longer!

Mon, 12/13/2010 - 10:48 | 801424 Thomas
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Stein's law is immutable.

Mon, 12/13/2010 - 14:32 | 802071 NotApplicable
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Still though, that has no bearing on short term timing.

Mon, 12/13/2010 - 10:52 | 801433 erik
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Taylor's call of EUR-USD to ~1.36 may just turn out true this week.  That would coincide with a USD at the 50 day MA most likely, which makes for a nice entry point.

Mon, 12/13/2010 - 10:52 | 801434 Alex Lionson
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It seems to be a game of "who blinks first"

Mon, 12/13/2010 - 10:56 | 801438 Shameful
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Yeah that's a lot of money, but somehow I'm underwhelmed.  Maybe after Zimbabwe Ben's performance this just comes off as weak.  If Trichet really wants to grab the worlds attention he is going to need to really dig down deep and buy a lot more trash.

Mon, 12/13/2010 - 11:00 | 801442 youngandhealthy
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Whopping!?   It is a third of what FED is buying every day and will continue doing so until June next year. ECBs tally so far is approx €70Bn since May. That is probably what FED has monetized the last 2-3 weeks.

And ECBs operations are sterilized.

Mon, 12/13/2010 - 11:53 | 801549 SheepDog-One
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How do you sterilize toxic waste, burn it?

Mon, 12/13/2010 - 11:07 | 801453 Wolf in the Wilds
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Moral Hazard.  ECB is putting its balance sheet at risk now as the buyer of only resort of the the peripheral bonds. 

 

http://viewfromthewilds.blogspot.com/2010/12/moral-hazard-ecbs-ongoing-m...

 

Won't end well

Mon, 12/13/2010 - 11:19 | 801476 Gimp
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How does this all end??  Everyone printing worthless IOU's? 

Mon, 12/13/2010 - 11:25 | 801488 koeleköpke
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the scholar learned it from the master

 

Mon, 12/13/2010 - 11:25 | 801490 Dadoomsayer
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Looks like everyone is pushing up asset prices.  Good times

Mon, 12/13/2010 - 12:01 | 801568 Caviar Emptor
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It's the style of the times!! Gotta keep up with those Jones'. 

Supersize my debt financing! 

Mon, 12/13/2010 - 13:28 | 801852 Goldenballs
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Who else would buy worthless toxic debt however its packaged.Just print and buy,what a joke.

Mon, 07/25/2011 - 06:34 | 1489993 cindycheng
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