ECB Stimulus Is Unlikely to Spur Growth, Eagle’s Camp Says

Further European Central Bank stimulus will fail to boost inflation and revive the region’s economy, putting a ceiling on how high U.S. yields can climb, said James Camp, a money manager with Eagle Asset Management.

The ECB will start buying covered bonds this month and asset-backed securities by the end of the year, ECB President Mario Draghi said at a press conference in Naples, Italy, after leaving interest rates unchanged at record lows. “These purchases will have a sizable impact on the balance sheet,” he said, without specifying a volume.