ECB Gave Markets a PEPP Talk

<p>The ECB delivered broadly as expected by increasing its PEPP envelope by EUR600bn to EUR1,350bn until June 2021. At the same time, it announced that it had decided to reinvest the PEPP holdings at least until end-2022. Markets reacted with risk on, led by Italy tightening 20bp. PEPP was increased… At the monetary policy meeting […]</p>
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