ECB Bond-Buying Tweak Is Less Than Meets Eye, ABN Amro Says

Updated on
  • New parameter to benefit government debt sold before 2013
  • Market liquidity could dry up more for older securities

European Central Bank President Mario Draghi sparked a rally in euro-area government bonds Thursday when the ECB increased a cap on the amount of securities it’s able to buy under its stimulus program to 33 percent from 25 percent. To ABN Amro Bank NV, this is no game changer.

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