The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Morning Bid with David Gaffen:
U.S. equities are having a somewhat expected reaction to the European Central Bank's decision to expand asset purchases by 20 billion euros per month and move into buying euro-denominated corporate bonds as well, and investors in addition are shifting away from the euro and into other currencies, with the dollar up by more than 1 percent against the euro and as the single currency falls against the yen and pound as well.
San Francisco Fed President John Williams on Thursday said he still thinks gradual interest-rate hikes are the “best course” (http://reut.rs/1RaUTa9), a view that fails to harmonize with that of fellow Fed policymaker James Bullard, president of the St. Louis Fed who said late Wednesday further rate hikes would be “unwise” (http://reut.rs/1XAnEjh)