ECB comments via its financial stability review
- Turnaround in US growth outlook, EM stress, big market swings on politics could trigger disorderly rise in risk premia
- A number of market indicators appear to signal downside risks to macro-financial cycle in the US
The ECB pointing out a couple of concerns to the growth outlook there. Nothing that will be of immediate concern to markets right now but with regional growth looking sluggish and the ECB starting to spin things by pointing out worries abroad, you sort of get the feeling that they may potentially want to keep their options open to back away from normalising monetary policy next year.
