Instead of policy convergence, the ECB and the Feds are heading for divorce. This week the ECB delivered one of their better changeups catching the markets leaning the wrong way. But in retrospect, perhaps the most significant surprise is the markets failed to pick up on the ECB’s well-telegraphed signals that one of their more notable fears is that the firming Euro is hurting Eurozone exporters. This weeks ECB decision to keep the monetary floodgates open refusing to call an end to central bank largess has weakened the euro and will provide an export-driven boost to EU economies. A weak euro, of course, is entirely ... (full story)