Draghi says no problem finding bonds to buy
- Says ECB exposure to Greece is 110 billion euros
- Worries about finding supply not supported by evidence
- On worries about scarcity, our programme is flexible enough if situation changes
- ECB will look through unexpected inflation outcomes
The inflation comment shows the ECB won't do more if inflation falls and they believe it's temporary. That's not a big surprise, there isn't must speculation about more ECB action.
The larger driver at the moment is the talk about finding ample supply. German 10-year yields are down 1.2 bps to 0.126%, a record low.