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###POV: ECB bought a total of E17.495bln in.....>

ECB
ECB: ###POV: ECB bought a total of E17.495bln in its APP in week ending Dec8 up
sharply from E13.975bln the week before.
- All the increase came in the public sector purchase programme which rose to
E16.2bln from E10.9bln with the percentage of corporate bond purchases falling
to just 6.4% versus average of 10.5% in last 3-months and the lowest level since
week ending July 21.
- With a fall in corporate bond issuance expected in last 2 weeks before
Christmas and the ECB ending APP operations on Dec 20, the chances are that the
ECB will be buying a higher proportion of government bonds until then which
could support EGS going into the New Year.

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