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ECB Is Capping EGB Yields But Don’t Call It YCC (BBG Sources)

ECB

A BBG source report notes that "the European Central Bank is emulating its Asia-Pacific peers by controlling government borrowing costs, just in a uniquely European way. The ECB is buying bonds to limit the differences between yields for the strongest and weakest economies in the euro zone." EUR/USD sheds 15 pips on the headline, although the move is shallow, with the cross sticking to the range established in early Asia-Pac trade.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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