ECB May Have Started Asset Purchases, Says Bank Analyst

When the European Central Bank first announced their quantitative easing program, to the surprise of some but not traders in the currency and bond markets, the assumption was the program would start at a future date, perhaps months away.  A new report, however, indicates the ECB has already begun its asset backed purchases and the trade execution plan remains foggy. ECB’s asset purchases to influence market direction Make no mistake, just like U.S. style quantitative easing, the ECB’s asset purchases to influence market direction is a trade and should be measured as such.  As in the U.S., the trade results -…