Recent average has been about 17B euros
- 12,037m vs 17,223m a week earlier
- This report includes trades settled as of Wednesday
The thinking ahead of this report was that the ECB needed to show some acceleration in purchases to 20B or 25B in order to calm the bond market. Instead they slowed the pace of purchases. I'm keeping a very close eye on eurozone and global bond markets. There's a small uptick in Italian 10y yields on this.
The ECB is out with damage control on this with a spokesman saying the decline in weekly net purchases is explained by much higher redemptions.
