The worst-kept secret in global monetary policy was good for European stocks this week

great chart showing relative outperformance of Eurozone equities over US last week. They should have added bonds, the German Bund market was the place to be this week. European debt set the tone for the US Tsy market, rescuing bond investors from a sharp decline into the ECB meeting. Great quote: “if you’re an American reading this… know that all this extra cash floating around in Europe will probably mean you can use some of your winnings— err, returns—to take a vacation over there for cheap”

Categories: Monetary Policy

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