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Negative European 2Yr Sovereign Rates Hit 19 Countries As ECB Expands Balance Sheet

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

Despite all the hoopla about Europe’s improving economic condition, the European Central Bank (ECB) is once again increasing their assets purchases (balance sheet) despite their already 0% main refinancing rate.


Now The Balance Begins To Shift

The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.

This report tells why, and what to look for in the data and the markets.  GO TO THE POST


And now the number of “European” countries with negative 2 year sovereign yields just increased to 19.

At the 5 year maturity, 11 European countries plus the European Financial Stability Facility (EFSF) are carrying negative yields.

Of course, Japan also has negative sovereign yields at all maturities less than 9 years.

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