“we are not here to close spreads”

Det påminner lite om när Christine Lagarde i mars 2020 – då pandemin just hade brutit ut – slog fast att ECB inte fanns till för att ”close the spreads”. Hon fick backa några dagar senare.

Viktor Munkhammar DI 15 juni 2022

https://www.di.se/analys/spoket-fran-krisen-tillbaka-da-hattar-ecb-runt/

Lagarde’s most memorable comment in her time in office 

continues to be her protest in 2020 that “we are not here to close spreads” — a comment that helped spreads of Italian and Spanish bond yields compared to bunds to rise sharply.

John Authers Bloomberg 10 juni 2022

https://englundmacro.blogspot.com/2022/06/the-ecb-dog-that-did-not-bark-what-it.html

In a nervy performance, Mario Draghi’s successor as European Central Bank president made a stumble that threatened to undo much of what he achieved during his eight years in charge – including the sentiment that underpinned those famous three words. 

FT Alphaville 12 March 2020

https://englundmacro.blogspot.com/2020/03/markets-had-hoped-that-today-would-be.html