Marcus Ashworth, Columnist

These Bonds Should Make ECB Hawks Apoplectic With Rage

A slice of quantitative easing that's completely unsuited for public consumption.

February 12, 2018 at 6:30 AM UTC

Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. Previously, he was chief markets strategist for Haitong Securities in London.

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This is tapering?

With the economic recovery well under way in Europe the European Central Bank has cut its government bond purchases by two-thirds. Fair enough. However, it is not reining in its involvement in company debt. The securities now comprise about 20 percent of monthly purchases, up from 7 percent at the start of the program in mid-2016. The total amount could top 200 billion euros ($244 billion) before quantitative easing ends.