But, but, but all the clever talking heads said he had to do it now...
- *DRAGHI SAYS ECB TO REASSESS CURRENT STIMULUS NEXT QUARTER
- *DRAGHI SAYS ECB MAY NOT DECIDE ON NEW MEASURES IN JANUARY
- *DRAGHI: DECISION TO CHANGE BALANCE SHEET LANGUAGE NOT UNANIMOUS
This is not what the market wanted to hear - Draghi kicking the can with no indication they are any closer to getting Zee Germans on board with direct monetization of European fiscal irresponsibility.
US Stocks and EURUSD reacted first
[4]
As S&P Futures are now unch on the week...
[5]
Gold moved early but has extended its gains for now...
[6]
and European bond spreads jumped higher...
[7]
And DAX Futures just lost 10,000
[8]
Charts: Bloomberg
* * *
This would appear to be the perfect BTFD opportunity because EVERYONE has cash on the sidelines and knows Draghi will do it eventually... right?
