ECB Risks Trashing Corporate Bond Liquidity

Traders may live to regret yet more QE.

Waiting for the ECB orders to pour in.

Photographer: Chris Ratcliffe/Bloomberg

The European Central Bank's quantitative easing isn't having the desired effect. Consumer prices dropped by an annual 0.1 percent in March, according to figures released Thursday, leaving the bank's 2 percent inflation target a distant dream. ECB President Mario Draghi's credibility is on the line.

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