Extending current programs (i.e. no imminent Sovereign QE)... may not spend the entire EUR1 trillion on current programs... no rate change... Markets are not happy. EUR is surging, European stocks are dropping, European peripheral bond risk is rising. Treasuries are bid and US equities have dropped to yesterday's lows.
EURUSD not happy.. (and remember everyone and their mom is on one side of that trade)
[3]
European Stocks and Bonds not happy...
[4]
US equities (S&P 500) back at yesterday's lows...
[5]
Charts: Bloomberg
