Dragons this time does not beat expectations. Bags down, big-bounce euro – Il Sole 24 Ore

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This article was published on December 3, 2015 at 9:23.
The last change is the December 3, 2015 at 22:36.

European shares close down heavily after Draghi did not beat market expectations by announcing a ‘expansion of Q and up to March 2017 with the purchase of bonds also regional and muncipali. However, the monthly amount of purchases will remain at 60 billion Euros, where several analysts have suggested an acceleration. Shortly before the directors of the ECB had cut the deposit rate from -0.2% to -0.3%, again with a cut that some analysts had hoped would be more consistent. Even Wall Street closed heavy: the Dow Jones has sold its 1.4 as the S & amp; P 500, while the Nasdaq lost 1.7%.

Measures widely expected by the markets (and for somewhat disappointing). So they are taken obviously profit taking after recent gains that had put pressure on the ECB to do something more. Strong movement on the euro that jumped 4 figures in a few exchanges rising from 1,056 to 1,092, representing a jump of more than 3 percent.

The Business, which earned more than one point in the morning, closed with a fall of 2.47%. Down more than 3% for Paris and Frankfurt, which in the last two months had risen most of all.

Strong reaction also on the bond market with the spread BTP-Bund back to 100 points and the return on ten-year Italian climbed to 1.6% (Eurozone bond yields), while the two-year Bund slip still touch and -0.44% and therefore can not be acqsuitati by the ECB under the program of Quantitative easing because they yield less than the rate on deposits.

Overseas Wall Street proceeds downward but, what is more, rising yields on government bonds with the markets that are preparing for the first rise in interest rates in the US since 2006, which should be announced on December 16 .

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