Following the huge expansion of its asset purchases this week, the ECB’s will still need to raise the issuer limits on its bond holdings. We think it will eventually do so, providing a credible commitment to stand behind the region’s sovereign bonds markets. But that will still only cushion the blow to markets. The currency union’s GDP is certain to plummet in Q2.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.