The purchases of the Pepp pandemic program increase by 500 billion, which is extended until at least March 2022 - Favorable conditions for the third tranche of TLTRO until June 2022 and three new auctions in 2021 - Rates unchanged…
New move by the Fed against the risk of recession: the White House rejoices, but the markets are afraid - Goldman Sachs sees GDP down by 5% - Chinese industry collapses - Lagarde apologizes to Italy
The ECB announces an additional 120 billion for quantitative easing plus new liquidity auctions for banks, but the markets are not enough - Lagarde: "We are not here to close the spreads" -President Mattarella rises up: "We expect solidarity, not…
The former German finance minister pays tribute to Draghi ("He saved the euro") but believes that the expansionary monetary policy has induced states and political forces to elude the commitment to reform
At the annual Sintra Forum, the number one of the central institute announces that, "in the absence of improvements", "further stimuli" will be needed: all interventions are possible. The euro falls against the dollar and the stock exchanges restart, but Trump attacks the ECB president
The ECB President reassures the markets: Qe ends, but monetary policy will remain expansionary. - "Stay united in Europe and complete the banking union. Sharing risks helps reduce them". - Banks: "The recovery washes away NPLs, now it's…
The Riga meeting established that quantitative easing will not go beyond 2018 and that from October the purchase of government bonds will be reduced to 15 billion a month - Draghi: "Rates on hold until summer 2019" - The…
Congiuntura REF - Governments, especially in the USA, are doing nothing to simplify the current economic situation: economic signs of deceleration are starting to be observed in many countries
As for the possible trade war with the US, Draghi underlined that "growing protectionism is among the risks on a global scale that threaten to curb economic growth" - Eurozone GDP grows more than expected - The ECB…
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - "In a year of transition like 2018 we navigate on sight" on the markets and there will be more corrections, even if mitigated by company profits always…
The European Central Bank leaves rates unchanged and reduces purchases of public and corporate bonds, which remain at 60 billion until December, to then be halved until September 2018 and beyond, if necessary - Draghi:…
The German Finance Minister said he was "basically confident" about the course of the European Central Bank's monetary policy, which he considers "unsustainable in the long run"
Mario Draghi does not stop the race for the euro but, by leveraging currency tensions, makes the soft line of the ECB prevail, which will decide whether to lighten the Qe only in October - The elite of German bankers protest - The spread below quota…
Two of the leading exponents of the economic and financial panorama together once again at the meeting that brings together all the central bankers of the world. The last common challenge of the two is the abandonment of Quantitative easing without excessive repercussions for the world economy. The…
The president of the ECB, Mario Draghi in a speech at the Lindau Nobel Laureate Meeting, defended the policies of Quantitative easing.
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, Kairos strategist - Our country remains Europe's weak link in the event of a recession: it can absorb a not excessive revaluation of the euro but runs greater risks in the face of a possible rise of…
The president of the ECB confirms the continuation of the purchases at 60 billion until the end of the year and even beyond if necessary - "The recovery is consolidating but the risks persist even if they are now balanced" - "Inflation is not yet…
The minutes of the June meeting confirm the prudent attitude in communicating to the market on the gradual return from the ultra-accommodating monetary policy. We wait for higher inflation to materialize before proceeding
The ECB president spoke at the annual central bank forum in Sintra in Portugal: inflation is modest, although above expectations, and on monetary policy ....
The departure of the new electoral law and the elections themselves pleases the markets, also invigorated by Draghi's confirmations on rates and Qe - Piazza Affari is the best stock exchange of the day and gains 1,46%: especially banks and savings are progressing…
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - For this year the horizon of the Stock Exchanges is rosy but, with wage inflation on the rise and the Qe decreasing, in 2018 the tune may change, depending less than…
The announcement of the American tax reform and the confirmation of Qe by the ECB do not animate the financial markets which are taking a breather after the post Macron exploit at the beginning of the week - Piazza Affari loses 1,15% but defends 20 -…
The number one of the Eurotower confirms that "the recovery is becoming more solid", but does not rule out the possibility of extending or strengthening the stimulus measures if necessary to bring inflation back up - "Macron? We do not conduct monetary policy on the basis…
The Frankfurt institute confirmed interest rates at historic lows (the one on refinancing on main transactions is zero) and the regular continuation of Quantitative easing, which will continue until the end of the year at a rate of 60 billion…
The ECB president replied, remotely, to the German Weidman who instead urged an end to QE after the publication of the Fed minutes which accelerate the rise in US rates, probably towards the end of the year. New call for reforms
The institute led by Mario Draghi left the main refinancing rate unchanged at zero, confirming the quantitative easing program of 60 billion per month from April to December, "or beyond if necessary".
The bulletin of the European Central Bank confirms the expansive policy and removes fears of a tightening on rates linked to the recovery of inflation in the Eurozone in January. Risks related to Brexit and US trade policy remain
The lengthening of the Qe, even if with a reduction in monthly purchases, gives new life to the banks and Piazza Affari, well above the 18 thousand mark - Volano Bpm and Banco Popolare - Mps and Unicredit, Mediolanum are also up sharply…
The ECB today announced the extension of the bond purchase program from April to December next year, but reduced the monthly amount from 80 to 60 billion - Rates unchanged as expected - Draghi: "Growth in the Eurozone…
Draghi defends himself against the controversy coming from Germany - "Monetary policy today is protecting the interests of savers"
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - From the chimera of the Helicopter Money to the scrapping of the Qe and the tapering of the ECB: the markets dream but the stability of growth and the very slow rise of inflation in…
The ECB president underlines once again how structural reforms, together with a budgetary policy that supports growth, "will enable the euro area economy to reap all the benefits of monetary policy measures".
The markets are studying Draghi's moves on QE while the IMF warns: the world is weighed down by a ballast of 152 trillion debts - Asia ok, oil and banks are driving Wall Street - MPS does not participate in the Piazza party…
The European Central Bank left the main refinancing rate unchanged at zero and confirmed the 80 billion euro purchase program up to March 2017 "or beyond if necessary" - Stock markets slow down: Milan on parity.
In the bulletin published today, the Central Bank confirms that it will continue to monitor the economy and markets closely, ready to intervene if necessary. Qe goes on until prices stabilize
FROM THE BLOG THE RED AND THE BLACK OF KAIROS - In January China, oil, Isis and the banks themselves made us fear the worst but some favorable astral alignments, primarily the fact that the American economy has started to grow again, have…
FROM THE "RED AND BLACK" BLOG by ALESSANDRO FUGNOLI, Kairos strategist - The feared post-referendum debacle in England did not take place. On the contrary, after two weeks the New York Stock Exchange is at its highest and the…
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - After the end-of-cycle crisis in February we returned to the status quo ante and the markets returned serene as a result of Qe, fiscal policy…
After FCA, Telecom and Ferrari, new bond issues from large companies are arriving: waiting for Pirelli and Anas - In Qe which will start in June, the ECB will also start buying loans from non-financial companies.
The ECB strengthens Quantitative Easing beyond market expectations by raising the monthly purchase of both government and corporate bonds to 80 billion - New extraordinary financing for banks - Cuts in the refinancing rate and the interest rate…
