Economics
Taper Without the Tantrum as Draghi Pulls Off Virtuoso Performance
- ECB signal on rates and QE stokes stocks and bonds, sinks euro
- Central bank president delivers hawkish moves with dovish spin
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For European financial markets, it’s apparently all in the delivery.
The euro slumped on Thursday against every major peer, the region’s stocks rallied and government bonds jumped. And the catalyst for the moves was the European Central Bank decision that saw an end date set for the easy money that has mopped up debt, spurred equities and weighed on the common currency.