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EUR Jumps And Dumps, Stocks Slide As Draghi Suggests Nothing Lasts Forever

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The market is not happy. Hit with a double-whammy of "ECB not discussing an extension of QE beyond March" and that "extraordinary policy support won't last forever." EURUSD jumped, stocks dumped, and Bund yields spiked. However, a quick hint that "an abrupt end to QE is unlikely" helped a little...

 

So on the one hand...

 

  • DRAGHI SAYS ECB DIDN'T DISCUSS QE EXTENSION BEYOND MARCH TODAY
  • DRAGHI SAYS EXTRAORDINARY POLICY SUPPORT WON'T EXIST FOREVER

 

And this happened...

 

20161020_ECB1_0.jpg

 

And then, on the other hand...

 

  • ECB DID NOT DISCUSS TAPERING
  • DRAGHI SAYS ECB HELD SEMINAR ON OPTIONS ON QE TWEAKS

 

20161020_ECB2_0.jpg

 

20161020_ECB1.jpg?1476968070

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