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Apr 27, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

European Central Bank

German Bund yields at highest in almost two weeks, dragged up by Treasuries
Markets

German Bund yields at highest in almost two weeks, dragged up by Treasuries

  • A rally in European shares to near record highs and signs of a pick-up in inflation in big euro zone economies also weighed on euro area bonds, pushing 10-year yields up 4 to 5 basis points across the board.
  • In turn, Germany's 10-year bond yield rose over 5 bps to -0.26%, its highest level in almost two weeks. This left the gap with its US peers at just over 200 bps and near the widest levels in over a year.
Published 30 Mar, 2021 09:15pm
ECB must remain euro zone's stabiliser
Business & Finance

ECB must remain euro zone's stabiliser

  • There is a clear risk of self-fulfilling adverse dynamics taking hold, through which uncertain economic prospects induce households, firms and governments to hold back on expenditure plans, leading to a decline in overall demand that validates the loss in confidence about the future.
  • Hoping to prop up the economy until it is ready to reopen, the ECB has pushed borrowing costs to record lows through copious asset purchases and loans to banks at rates as low as minus 1%.
Published 27 Mar, 2021 06:27pm
ECB's Lagarde warns of uncertainty about speed of vaccination
World

ECB's Lagarde warns of uncertainty about speed of vaccination

  • "The near-term economic outlook is subject to uncertainty, relating in particular to the dynamics of the pandemic and the speed of vaccination campaigns," Lagarde said in a blog post on the ECB's website.
  • We therefore stand ready to adjust all of our instruments, as appropriate, to ensure that inflation moves towards our aim in a sustained manner, in line with our commitment to symmetry.
Published 22 Mar, 2021 09:22pm
ECB to look through temporary inflation rise, Elderson says
Business & Finance

ECB to look through temporary inflation rise, Elderson says

  • "Inflation increased sharply in January and February, and is likely to go up further in the coming months," Elderson said in a Twitter Q&A.
  • "This is mainly due to transitory factors, which we look through. Underlying inflation remains subdued owing to weak demand and economic slack," he added.
Updated 16 Mar, 2021 09:06pm
German yields rise with US treasuries as ECB impact fades
Markets

German yields rise with US treasuries as ECB impact fades

  • Ten-year US Treasury yields rose to over 1.63%, their highest level since February 2020 and their German equivalents, the benchmark for the region, rose as high as -0.293%.
  • Italian 10-year yields, which outperformed the market on Thursday as the country is among the top beneficiaries of ECB bond buying, were up 5 basis points at 0.63%.
Published 12 Mar, 2021 09:36pm
ECB policymakers spar on fallout of US stimulus, outlook
Business & Finance

ECB policymakers spar on fallout of US stimulus, outlook

  • The ECB decided on Thursday to accelerate money-printing to keep a lid on euro zone borrowing costs, signalling to sceptical markets that it is determined to lay the foundation for a solid economic recovery.
  • "Biden just came in, the bill has already passed, and the check's going to be in the mail next week," one source said.
Published 12 Mar, 2021 08:55pm
ECB policymakers agree on bond purchase target, differ on yield level aim
Business & Finance

ECB policymakers agree on bond purchase target, differ on yield level aim

  • The sources said policymakers set on a monthly target for the its Pandemic Emergency Purchase Programme with a small tolerance band around it but agreed not to reveal it.
  • One of the sources said the ECB aimed to push down yields to where they were in December while another said improved economic prospects meant part of the recent increase in yields was justified.
Updated 11 Mar, 2021 10:04pm
Euro zone yields fall after ECB says it will increase PEPP
Markets

Euro zone yields fall after ECB says it will increase PEPP

  • Euro zone yields were already edging down, tracking moves in US Treasuries, which were affected by an auction of benchmark 10-year notes that was not as bad as feared.
  • The ECB barely increased its emergency bond purchases in recent weeks, stoking doubts about the bank's resolve to calm market nerves and support indebted governments through the pandemic.
Published 11 Mar, 2021 07:04pm
ECB barely raised purchases last week even before redemptions
Business & Finance

ECB barely raised purchases last week even before redemptions

  • The ECB bought 18.2 billion euros worth of bonds on a gross basis - that is, before taking out redemptions - under its Pandemic Emergency Purchase Programme last week, the data showed.
  • ECB policymakers appeared divided on the question of greater market intervention ahead of their policy meeting on Thursday.
Published 09 Mar, 2021 08:41pm