As Draghi delivered, markets took cue, surging to pre-recession highs in one of the most active and momentum-filled days in this dreadfully slow summer slump. During the highly anticipated ECB meeting this morning, the central banked detailed its most aggressive plan to date to deal with the region’s mounting debt crisis. The newly unveiled bond-buying program entails the central bank purchasing short-maturity government bonds to keep borrowing costs down for Spain, Italy, and other indebted countries. The new approach is to be a “fully effective backstop” against market volatility and is promised to be open-ended, but yet conditions have been firmly placed on the program. Draghi indicated that these struggling countries must themselves ask for help and must accept the related conditions, he cites that “It’s in the hand of the government of Spain, and the governments of the euro area.” Whether or not these conditions will hinder the program’s effectiveness or help [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Markets Slump On Jackson Hole Jitters 5 Gold Metal ETFs For The 2012 Olympics 5 Worst ETF Strategies Of The Last 5 Years Three ETF Charts That Sum Up 2012 Europe ETFs: The Good, The Bad, The Ugly
As Draghi delivered, markets took cue, surging to pre-recession highs in one of the most active and momentum-filled days in this dreadfully slow summer slump. During the highly anticipated ECB meeting this morning, the central banked detailed its most aggressive plan to date to deal with the region’s mounting debt crisis. The newly unveiled bond-buying program entails the central bank purchasing short-maturity government bonds to keep borrowing costs down for Spain, Italy, and other indebted countries. The new approach is to be a “fully effective backstop” against market volatility and is promised to be open-ended, but yet conditions have been firmly placed on the program. Draghi indicated that these struggling countries must themselves ask for help and must accept the related conditions, he cites that “It’s in the hand of the government of Spain, and the governments of the euro area.” Whether or not these conditions will hinder the program’s effectiveness or help [...]
Click here to read the original article on ETFdb.com.
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