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Net Asset Purchases Fell Sharply Last Week On High Redemptions

ECB

ECB net purchases slowed to E13.8bln in the week to Dec 17, vs E23.9bln the week prior and the slowest pace since the end of October.

  • PEPP buys fell to E11.8bln vs E18.6bln prior, while PSPP net purchases halved to E1.8bln. But weekly redemptions in PEPP amounted to a E7.7bln, a significant contributor to the subdued net figure (and the biggest since end-October).
  • Covered bond and ABS net buys flipped to contraction from expansion in the prior week; CSPP net buys in contract picked up to a 4-week high.
  • Of note, today (Dec 21) is the last trading day for APP and PEPP purchases until Jan 3.



ECB Net Asset Purchases W/EPSPP Cov BdCSPPABSPEPPTOTAL
12-Nov-216.2-1.81.80.018.324.5
19-Nov-216.70.52.00.619.429.2
26-Nov-215.60.9-0.20.115.722.2
3-Dec-211.50.60.60.010.713.5
10-Dec-213.50.60.90.318.623.9
17-Dec-211.8-0.71.1-0.211.813.8

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