Dovish ECB Disappoints – Gold Rises, Stocks and Bonds Fall Globally, Euro Surges
By: GoldCore
GoldSeek.com
Friday, 4 December 2015
‘Super Mario’, the European Central Bank’s monetary magician, disappointed markets yesterday as continuing and unprecedented monetary easing failed to prevent a sharp sell-off in stock and bond markets which has continued today.
There are sharp losses on financial markets after the ECB’s President’s – nicknamed ‘Super Mario’ and more recently ‘Magic Mario’ – latest radical measures stopped well short of market expectations and traders desperation for more cheap money and deepening ultra loose monetary policies.
Draghi announced a deepening of probably the most radical monetary policies of any major central bank in history.
The ECB will extend its massive 60 billion euro ($63.5 billion) a month money printing, or debt monetisation, scheme to at least March 2017, an additional six months. Debt monetisation will now include both regional and local government debt and be reinvested upon maturity.
The Rest…HERE
