This page has been archived and commenting is disabled.
What Wall Street Expects From Mario Draghi Today
While the ECB's announcement is due out in minutes, the only thing the market is looking forward to is Draghi's actual press conference due to take place in exactly one hour. It is here that the former Italian and Goldman banker is expected to take jawboning to new levels, even if - as is customary - he actually does nothing and considering the ECB's balance sheet, which after all its private covered bond and ABS QE is growing at the "torrid" pace of some €4 billion per week, not even enough to offset the natural decline in the ECB's balance sheet, his actions so far have achieved absolutely nothing the algos are starting to get impatient.
That said, in also keeping with traditiona, no analyst is actually willing to step out of line and forecast anything market-moving.
Here, courtesy of RanSquawk, is a summary of what Wall Street's individual banks expect from Draghi in a few minutes.
- Host of tier 1 investment banks have recently revised their base case scenarios for an ECB QE programme from a ‘No/unlikely’ to a 1H 2015 timeframe
- Despite the likelihood of an ECB sovereign bond purchase programme in the near-term it is highly unlikely that this week’s meeting will see the unveiling of such stimulus
- Q&A session may garner particular focus given the recent slide in oil prices
European banks put forth their expectations for today's ECB meeting, while JP Morgan see the FFR target at 0.75%-1.0% by December 2015
- Credit Suisse - Risks are skewed toward ECB under-delivering on investors' expectations for sovereign QE given recent moves in EUR rates markets. However, they note two things that may move the market today. 1: Full commitment to start EBG purchases in coming weeks, with clear guidelines. 2: Any comments in press conference that shake investors' expectations that sovereign QE in Q1 2015 is basically a done deal.
- UBS - Do not expect ECB to unveil any new policy measures or issue major new guidance, instead likely to maintain a wait-and-see attitude this week and also on Jan 22nd, before gearing up to a new stage of policy action March 2015.
- Goldman Sachs- Draghi to signal further possible measures are being discussed. ECB will announce a sovereign dent QE programme during the 1H of 2015.
- BNP - Expect announcement of a broadening of ECB asset purchases at today's meeting to include sovereign bonds, in tandem with downward revisions to staff inflation and growth projections.
- RBC - Expect no change in policy with governing council waiting for TLTRO results on December 11th.
- JP Morgan - Fed should finally begin to lift rates next year, taking the FFR target to 0.75%-1.0% by December 2015.
»
- 3988 reads
- Printer-friendly version
- Send to friend
- advertisements -
Bloomberg is going full tilt this morning trying to get retail investors back in the market. I don't know who this d-bag they have on is but he wants everyone fully invested in stocks. Apparently holding any cash to him is nonsensical. He also said that Janet Yellen wants a higher stock market which we all know the FED does but it demonstrates how far the FED has wandered from their mandate. The dual mandate of inflation and unemployment control has been replaced by a single mandate of higher stock markets.
And giving the masterful Draghi all the credit. Draghi;s praise for his 'whatever it takes' comment simply means the FED and its crime syndicate is almost surely buying up European sovereign junk, the Dax, FTSE, etc., etc., etc.
Until these banker criminals' books can be audited, and them held responsible for their unsustainable fiction, this will continue ad infinitum. It is long past time to end the Fed, and the ability of these frauds to have any say over anything. At a minimum, throw them all in jail.
ECB keeps rates low:
http://www.cnbc.com/id/102239097
Our operatives.....in deep cover....have sent a surveillance image at great risk.
Pray for them.
Can you name all three of them? Let's see who's on their game this morning.
https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/10439460_1580553205502031_1422735518806096569_n.jpg?oh=7ddc0c9f8c5677316e3f9fbaa2373ae1&oe=5501B491&__gda__=1426257326_1507f133c6dc8a27b410da8ade3e34ae
I'm currently reading Edward Griffin's The Creature From Jeckyll Island....these banksters need to be strung up ASAP!! Or maybe it's already too late.
http://olduvai.ca
Superb book.
DavidC
Good book.
Mario - its for the Children.........
Find out what the squid wants Dragqueen to do and you'll have your answer. As far as the Morgue's comments about raising rates in 2015, I didn't know they had a sense of humor.
Also Jamie Dimon is saying that Europe is going to drag for a decade. So I ask you if the full on Keynesians in Japan have been dragging for 2 decades with no end in sight and the "austere" Europeans will drag for a decade, which approach is more effective OR
Does either approach matter? Are we just in a period of global economic stagnation? See Dark Ages.
In other news Wall Street expects a dildo in its anus from Draghi.
What else is new?
At least a dildo won't make you bleed out ur arse.
Well, actually it depends on the thrusting.
But don't worry, we have Ebola instead to cover for that.
Bullish. What does it matter anymore? The Central Banks are buying everything that isn't nailed down. I suppose that will work until there isn't a soul left across the globe with a single dime of disposable income.
At that point, what does it matter the nature of the monkey business? DOW at 30,000 and a major depression across the globe. These apparently mutually exclusive contradictions can only last a defined period of time I assume.
When you assume, you make an ass out of u and me.
You don't have to assume it. You can count on it.
Me thinks the Dow at 30,000 depends on draghi destroying the European nation state.
Making the world safe for Atlantic capital.
Draghi has been jawboning and underdelivering for so long, and no one seems to give a shit.
It reminds me of a story I heard from my German teacher many years ago. It was related to Hitler's speeches just prior to WWII. The crowds were vast, and as can be imagined, when that many people were grouped together, even a "quiet" crowd is somewhat noisy. Then add the limitations of the sound equipment of the day, being challenged by the distances to bring the message clearly to everyone. So, each time the Fuhrer would speak and stop, the crowd would wildly cheer. This repeated throughout the speech. After each time the cheering stopped, people would turn to each other in the crowd and ask "What did he say? What did he say?"
"Former Italian"? Did he apply for German citizenship?!
Fool me once, shame on you. Fool me 40 or 50 times, I'm really hoping you're not fooling me.
Free Money...what else.
Though personally I would like to see an annoucement of a embargo against criminal mega banks....but that probably won't happen
We deceived some folks
What am I thinking he's Italian?
Abbiamo decived alcune persone
Just so we made that clear.