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PEPP Purchases Pull Back

ECB

ECB net asset purchases slowed to a 3-week low of E10.7bln in the week to Mar 18, down from E13.6bln prior. PEPP buys slowed to E7.7bln (a 2-week low) from E8.9bln a week earlier, while PSPP buys dropped to a 3-week low of E1.2bln (from E3.0bln).

  • Redemptions were of a decent size, weighing on the net purchases, incl E4.6bln for PSPP and E3.8bln for PEPP.
  • Covered bond, CSPP, and ABS net buys were mixed.
  • The 4-week moving average of PEPP purchases slowed to the lowest since the beginning of 2022, at E6.1bln.
ECB Net Asset Purchases W/EPSPP Cov BdCSPPABSPEPPTOTAL
4-Feb-22-0.4-0.11.20.016.517.2
11-Feb-224.50.51.50.213.320.1
18-Feb-223.41.01.40.110.916.8
25-Feb-220.50.21.9-0.30.32.6
4-Mar-224.7-1.01.1-0.17.712.4
11-Mar-223.0-0.21.60.48.913.6
18-Mar-221.20.21.7-0.27.710.7
Fixed Income BulletsHomepageEuropean Central Bank (ECB) Market NewsBulletMarketsEmerging Market NewsForeign Exchange Bullets

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