Short Comment
Unlike market consensus, Mr. Draghi decided to continue its QE until maybe December, this year.
As a result, EUR is plunging now.
I don't have any change in my before opinion.
Stock market could go up temporarily, but I think macroecononic situation, which started to applying to the markets, wouldn't allow long-term rising.
Mr. Draghi has been showing concern over decreasing reconciliation, and considering effects of policy during the past, the extension isn't enough to pave gap in real economy between US and Europe.
The message is different from major expectations of the participants.
but I believe it doesn't that suprise becuase Mr. Draghi was concerning possibility of ending the policy too early.
My market consensus for Europe is same with before:
Slumped stock market, sidewelalk EUR and strong FI market.
Unlike market consensus, Mr. Draghi decided to continue its QE until maybe December, this year.
As a result, EUR is plunging now.
I don't have any change in my before opinion.
Stock market could go up temporarily, but I think macroecononic situation, which started to applying to the markets, wouldn't allow long-term rising.
Mr. Draghi has been showing concern over decreasing reconciliation, and considering effects of policy during the past, the extension isn't enough to pave gap in real economy between US and Europe.
The message is different from major expectations of the participants.
but I believe it doesn't that suprise becuase Mr. Draghi was concerning possibility of ending the policy too early.
My market consensus for Europe is same with before:
Slumped stock market, sidewelalk EUR and strong FI market.
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