Skip to main content

ECB has done the easy bit, harder work is to come

This week, the ECB arrested the sell-off in peripheral bond markets without announcing very much at all, but there’s only so long that markets will be soothed by encouraging words about a possible anti-fragmentation tool. We think there is a significant risk that it will disappoint at the next meeting on 21st July. Meanwhile, the polls suggest that President Macron’s group is far from guaranteed to win a majority in parliament following the second round of voting this weekend. But in that event, support from centre-right parties should avoid a lame-duck presidency. Markets Drop-In (22nd June, 10:00 ET/15:00 BST): Join our Markets team for this special briefing on the outlook for equities, bonds and FX and a discussion about revisions to our forecasts. Register now

Become a member to read more

This is premium content that requires an active Capital Economics subscription to view.

Already a member?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access