Bond yields are declining slightly today as pressure mounts inside the European Central Bank to put “end securities” in the quantitative easing (APR) program faster.
The head of Slovakia’s central bank told Bloomberg today that the monetary policy tool, which was adopted to help boost inflation when it was “below zero”, has lost its usefulness.
“The risks that this tool has been designed to address have diminished, while on the other hand the negative side effects are becoming more significant,” Kazimir said. Commercial activity weakens in August, so it would be a good natural time to end the program.
In the domestic market and more specifically in HDAT, there was an increased buying interest as transactions amounting to 162 million euros were recorded, of which 126 million euros related to purchase orders. The yield on the 10-year bond closed at 2.60% from 2.69% yesterday against 0.20% of the corresponding German bond, resulting in a margin of 2.40% from 2.43% that closed yesterday.
In the foreign exchange market, the euro is falling slightly as it traded early in the afternoon at $ 1.1344 from the level of $ 1.1356 that the market opened. The indicative price for the euro / dollar exchange rate announced by the ECB was $ 1.1354.
Source: AMPE
Source: Capital
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