This past week, there’s been renewed focus on Europe with talk of an EU recovery fund. European stocks and bonds have both rallied on the news. This follows the ECB’s various expanding QE and LTRO programmes. Coincidently, the ECB has just published a paper analyzing the flow implications of the ECB’s last QE programme. They found that it led to significant outflows from the Euro-area, which suggests that what happens in Euro-area policy has global implications. For the Deep Dive on the paper, click here.
I also have former Argentina FinMin and Central Banker Governor, Alfonso Prat-Gay, as a podcast guest tomorrow. Let me know any questions you want me to ask!
Finally, check out our latest COVID tracker – Latam is still in the hot zone.
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