12/09/18

Did The ECB Just Say "Watch The U.S. Midterms"?



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Did The ECB Just Say "Watch The U.S. Midterms"?
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Submitted by Bloomberg macro commentator Richard Breslow

There was a very important story reported on Bloomberg this morning. And a distressing one, from a trading point of view. It suggested the likelihood that the ECB's economic forecasts have been downgraded and the new projections will be announced after Thursday's rate-setting meeting. It's a most interesting development. Not because it will upset expectations for the outcome of the meeting. Other than to perhaps dampen the excitement of those that have been warning us to buckle up because we could be in for a hawkish surprise. What intrigued me was the utterly muted reaction to the news. And this in a world where markets often overreact to spurious headlines and comments.

To be fair, there was some movement in the ...

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