mkt “sentiment” a funny thing -judging by comments this am, everyone expects to be disappointed by Draghi… he barely has to show up now :)
Ok, it’s a big policy week and of course it could either way for markets. An awful lot of ECB and Fed easing expectations may well be in the price already, so some delivery would appear to be important especially now that ECB chief Mario Draghi has set everyone up for fireworks in Frankfurt.
But if it’s even possible to look beyond the meetings for a moment, it’s interesting to see how the other forces are stacked up.
LONDON (Reuters) – ECB chief Mario Draghi may now have positioned himself as the difference between a tranquil August and an action replay of 2011′s nightmare summer shakeout in global markets.
Between July 27 and the end of September last year, world stock markets lost almost 20 percent.