Monday, July 30, 2012

Duy and Krugman: Draghi Makes No Sense

Tim Duy and Paul Krugman parse Mario Draghi's speech and decide it makes no sense. Both the Fed and the ECB will make important decisions this week, so we will see if last week's market euphoria survives in the cold light of day. Initial German approval of Draghi's remarks has been walked back, as the saying goes. The Bundesbank has not moved one iota, and Schaüble sounds considerably less positive than he did at first.

No comments: