ECB Exceeds Irish-Bonds Mandate for First Time Since 2016: Chart

The European Central Bank bought more Irish bonds in November than mandated by its so-called capital key last month. Historically, the ECB has struggled to buy the nation’s bonds owing to a shortage. This “confirms that while the ECB is deviating from its preferred allotment method, due to scarcity or any other reason, it will use that same flexibility to fill any gaps when possible,” said Kim Liu, a strategist at ABN Amro.

— With assistance by Zoe Schneeweiss

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