Enter the Draghi

by | Jun 18, 2019 | Daily Note

Mario Draghi the ECB Chairman spoke early today  got the markets going with just seven words "and the APP still has considerable headroom" but he will only be running the ECB for a few more months and succession uncertainty will likely blunt the implications of his address.  Also keep in mind while the APP may have considerable financial headroom, its political support is less certain. Cutting rates even further into negative territory more QE is all on the table.  Mario has a greatest hits reel and I expect this one to make the cut.  His best was of course "Whatever it takes."  It's stirred up the markets and President Trump who took to Twitter naturally to call it unfair to the US.  He then followed with once again hopes for China trade talks that kicked on the market afterburners.  The market has traded up countless times with another "trade deal hopes..."  

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