New year jitters for bond markets as ECB cuts back stimulus

[Gerald]

LONDON (Reuters) - Borrowing costs across the euro area shot higher on Tuesday as a cut in monthly ECB asset purchases became a reality, with hawkish comments from a top official and strong data hurting sentiment towards bonds on the first trading day of the year.

Peripheral bonds markets, the biggest beneficiaries of European Central Bank stimulus, bore the brunt of the selling. Yields in Italy, Spain and Portugal rose 6-7 basis points each, widening the gap over German peers.

But even “core” or top-rated bond markets were left unscathed from the selling pressure, with Germany’s 10-year bond yield hitting two-month high.

https://www.reuters.com/article/us-eurozone-bonds/new-year-jitters-for-bond-markets-as-ecb-cuts-back-stimulus-idUSKBN1ER0UL?il=0

Money the power.:D

[Skybird]

Centralbank policies - a drug-induced clueless operetta written by the drunk and insane, for an audience of walking deads. Excel in this madness, and you even get a forged Nobel prize which was not founded by Nobel, but was founded by the Norwegian central bank which then abused the name of Nobel for it.

No war has ever done as much damage, as central banks do year by year by year.

This is a nice and educative movie made on where money is coming from.


https://www.youtube.com/watch?v=4AC6RSau7r8

"Despite the endlessly presented mint footage, government-created money typically accounts for less than 5% the money in circulation. More than 95% of all money in existence today was created by somebody signing a pledge of indebtness to a bank. Whats more, this bank credit money is being created and destroyed in huge amounts every day, as new loans are made, and old one repaid."

As I often said, we have currently no money worth the name, true to the original meaning of the term. What we pay with and accept to get paid with - are debts without safeties. In other words: the only value these currency units indeed hold, is the promise of the illusion in them. Take away the illusion, and you are dead.

[Gerald]

Nice Sky!:)

[STEED]

Old one Sky but good, you forgot Money as debt 2 and 3. :03:

https://www.youtube.com/watch?v=28V7AI5x8jQ

https://www.youtube.com/watch?v=NSTIkRukPvQ