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ECB's Stournaras Buoys Bunds, EUR

CROSS ASSET

In unscheduled comments, ECB's Stournaras, the governor of the Bank of Greece, stated that the ECB should accelerate PEPP purchases and that there is no justification for a tightening of nominal bond yields at the long end.

That makes Stournaras the first ECB member to openly call for the ECB to accelerate the pace of their asset purchase programme.

Bund lurch higher to new session highs of 173.82 in response, while the EUR also firms, adding around 20 pips to trade 1.2136.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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