Mario Draghi's "More Policy Actions To Come" ECB Press Conference - Live Feed

Tyler Durden's picture

Well he delivered NIRP... now it's time to really deliver. Having promised in the press release to announce further policy measures in the press conference, markets are holding back their enthusiasm for now. While we have already explained why any QE action she undertakes (whether small-scale SME ABS buying, LTROs, or large-scale sovereign bond buying) will not have any direct positive impulse to the real economy, we are sure even the merest hint of it will run stock markets higher, taking out stops all the way...


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Headbanger's picture

It's all just laugable at this point.

wallstreetaposteriori's picture

@zerohedge:  Doesnt the ECB steralize its purchases?  What are they going to do... buy all the shitty sovereign bonds and sell bunds?  Sounds like an epic plan to me.

wallstreetaposteriori's picture

Guess that answers that question... he says suspend steralizationa and the S&P jumps 6 points.  o_O

Haus-Targaryen's picture

I think this means real estate bubble Europe v 2.0 coming online in 3 ... 2 ...

smlbizman's picture

if this was important, liesman would be asking all the questions.....not these people that seem to ask squirmy questions that make this guy squirm....

Sudden Debt's picture

It's pretty clear no?

Step 1: Europe buys the US bonds with money it hasn't got.

Step 2: America buys the EU bonds with money it hasn't got.

And the economy doesn't need to recovery because clearly the recession ended in 2009 and it hasn't stopped growing ever since.


Ghordius's picture

SD, you are missing the forest for all those fresh, new trees

what was the situation of the european banks before they formed the ECB? they were chockerblock stuffed with USTs. because Uncle Sam promised they would be "as good as gold"

all in all, in the greater scheme of things, the ECB and the EUR are a way to get out of this dollar exposure, and to be more outcome independent

has the aggregated dollar exposure of all the ECB's NCBs decreased or increased? check yourself and see

you either produce something others value, or you make promises. where is the eurozone? in the exporting surplus area

growth? what for? in order to accumulate more IOUs?

buzzsaw99's picture

reminds me of the challenger "incident" What happens if I push THIS BUTTON?

Sudden Debt's picture

It's just foam... how bad can it be right? maybe we lost some paint but that's it...

DavidC's picture

If they're doing this because there's a 'recovery' what would they be doing if there WASN'T?!


sodbuster's picture

Isn't it something?!! Six years into this shit, and they are still dreaming up programs and crap to keep the ponzi going. Isn't it about time the world pulls it's collective head out of it's ass, and admit this shit ain't working, and never will!!!

the not so mighty maximiza's picture

fucken a, nice european recovery

fonzannoon's picture

This is going to be the best Hamptons coke and hooker summer ever.

101 years and counting's picture

isnt NIRP know....since it steals money from savers and leaves them with even less purchasing power.

fonzannoon's picture

The savers just have to throw their money into te Dax and get themselves 30% a year.

Kirk2NCC1701's picture

Bullish for Germans* taking their money abroad.  Thailand, here they "come"!

* Germans have affordable education, health care and 4-5 weeks of annual vacation. They also prefer to use cash over credit.  They like to save.  So they can afford to be Globetrotters - and they are.  Like Belgium and some other small EU countries, they also prefer selling arms, rather than use them as invaders in other countries.  Good for their MIC business, w/o the blowback that the USSA generates.

maxw3st's picture

Savers don't purchase. That's the problem. Their purchasing power is essentially irrelevant. But the capital drain they create by removing money from circulation is significant, on the margins.

Squid Viscous's picture

194 on the SPY- comical at this point... i may buy some 200 calls just to be the first kid on the block with one...

infinity8's picture

WilliamBanzai, can I please have this guy in a Guido Sarducci hat? Tx.

NMFP's picture

This cunt keeps talking about price stability, so price's going up is more stable than prices coming down? Or am I missing something?

BeetleBailey's picture

Listened to most of the shit-show, done in raspy Italian business "Englace"


Only one......


other than that....should'a kept that short limit EUR/USD @ 1.3640 on....