The oracle Frankfurt decreased the rate of -0.2 to -0.3% yesterday. It does not change the face of Europe…
He might as well do nothing, because it was not (yet) really necessary. The ECB made thus a small gift.
Apparently, “the markets” were expecting something more spectacular and more imaginative. And now the market makers are not satisfied and disappointed. But what do they really expected?
Thursday morning, EuroStoxx50 opened slightly in the red. At noon the index was already at + 1.14%.
As soon as Mr. Draghi announced the color, the index fell 3.39% in 15 minutes! EuroStoxx50 finally ended the day at -3.61%. From top to bottom, it’s a drop of 4.54%…
Can we speak of disappointment among market? Or is it that markets were anyway already too high yesterday? Or is it simply the “sell the fact”? In any case, the “hot money” (that moves from one minute to the next, from one end of the world to another) has once again done a masterful stroke. It is pure “hit and run”.
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