Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Societe Generale’s Anne Sees ’Short’ Risk Rally on ECB Debt Plan

Sept. 6 (Bloomberg) -- Benoit Anne, head of emerging markets strategy at Societe Generale SA in London, comments on the impact of the European Central Bank’s debt-buying plan on risky assets globally.

ECB President Mario Draghi said today policy makers agreed to an unlimited bond-purchase program to regain control of interest rates in the euro area and fight speculation of a currency breakup.

Anne gave his comments in an e-mailed response to questions.

“It is overall positive. No disappointment there, but of course not the final story given the big market events following up such as non-farm payrolls tomorrow and FOMC next week,” he wrote, referring to U.S. jobs data and the Federal Open Market Committee meeting on Sept. 12 and 13.

“I expect a short risk rally tomorrow, as from a risk management perspective the next hurdle has to be handled carefully too,” which is the jobs data.

“The Indian rupee is highly sensitive to the global risk picture, so it is positive for now, but the domestic fundamentals are still not helping. I wouldn’t expect a strong rupee rally at this point.”

To contact the reporter on this story: Jeanette Rodrigues in Mumbai at jrodrigues26@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.