Now it's time for EUR longs to come out & jump from the top floor....
Draghi Reveals More: Will Do Targeted LTRO, Suspends Sterilization
The much anticipated additional measures have been revealed: DRAGHI UNVEILS PACKAGE OF TARGETED LTROS, WORK TO PREPARE QE DRAGHI SAYS INITIAL SIZE OF TARGETED LTRO PLAN IS 400BLN EUROS ECB EXTENDS FIXED RATE FULL ALLOTMENT, SUSPENDS SMP STERILIZING DRAGHI SAYS PACKAGE INCLUDES PREPARATIONS FOR ABS PURCHASES In other words, even more actions along what was expected: keep in mind the last time the ECB did €1 trillion in LTROs it did exactly nothing to boost inflation or the "real economy." Furthermore, the ABS purchases aren't activated: just being "prepared." However, what was not revealed was the biggest ... (full story)