Long Term Refinancing Operation

“We expect ECB to announce new LTRO in coming months – still Constructive on EMU peripheral spreads. This would lead to a steeper term structure of EUR rates and support the compression of peripheral EMU spreads to German Bunds. The recent decline in political uncertainty in Italy and the fact that Ireland and Portugal remain broadly on track to receive further support from Euro area member states should work in the same direction.” (Goldman Sachs)


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s