Tuesday, October 17, 2017

17/10/17: ECB Boldly Goes Where It Was Going Before


'News' have become quite volatile to the upside these days... you hit a "Publish" button on one blog post dealing with QE (http://trueeconomics.blogspot.com/2017/10/171017-welcome-to-keynesian-monetarist.html) and another stream of numbers rushes in to fill the void left behind by the completed post...

With a h/t to Holger Zschaepitz @Schuldensuehner:


In summary terms:

  • ECB (world's largest holder of Government junk err... debt... err assets...) has ramped up its QE purchases by EUR34 billion, reaching the new historical high of EUR4.371 trillion. 
  • Currently, ECB asset holdings amount to 40.5 percent of the euro area GDP.
Of course, much of this 'purchasing' goes to fund fiscally insolvent 'austerity' implementing Governments of Europe (with exception of Greece). Courtesy of the above blue mountain, majority of European Governments today can avail of the negative yielding money from 'the markets'.

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