Europe Releases Another Unsourced Rumor To Talk Markets To Weekly Highs

Tyler Durden's picture

Update: and now the denial, conveniently just after all the upside stops have been taken out, again via BBG:

An ECB spokeswoman said in an e-mailed statement that it is usual practice and nothing special that Draghi meets or talks with the members of the Governing Council. She declined to comment on the content of any talks.

Of course, this is irrelevant. All the shorts have now been taken out. So once the market tumble resumes on the realization that nothing has happened, there will be no natural buying to the downside. Brilliant central planning as usual.

* * *

And so for the third day in a row, we get Europe continuing to talk itself up ever higher. From Bloomberg, with everything unsourced of course.

  • DRAGHI SAID TO SPEAK TO WEIDMANN BEFORE AUG. 2 COUNCIL MEETING
  • DRAGHI SAID TO FAVOR GIVING ESM BANKING LICENSE IN LONGER TERM
  • DRAGHI'S PROPOSAL SAID TO INCLUDE BOND BUYS, RATE CUT, NEW LTRO

How much higher, we wonder,  can the central planners talk this market up before someone actually demands something be done? And what happens when Merkel comes back from vacation?