It would appear The ECB has undertaken the same baffle'em with bullshit meme the rest of the world's central planners have embraced. Speaking this morning (this time not to a private hedge fund group), The ECB's Benoit Coeure stated unequivocally that "The ECB doesn't see overvalued asset prices." Well that's nice, apart from the -38bps yield on German 2Y notes. But then... to lull investors from their stupor, Coeure unleashed, "The ECB does see "little bubbles" in some markets." Which ones we can only wonder as they prepare to buy Muni bonds...
- *COEURE SAYS ECB ISN'T BLIND TO POSSIBLE SIDE-EFFECTS OF POLICY
- *COEURE SAYS ECB DOESN'T SEE OVERVALUED ASSET PRICES
- *COEURE SAYS ECB SEES 'LITTLE BUBBLES' IN SOME MARKETS
Shhh...

