The Phaserl


Gold & Silver Suddenly Shellacked

from ZeroHedge:

Because nothing says sell precious metals in huge size like another central bank printing a trillion dollars… No apparent catalyst is clear though we note Treasury yields also started to tumble and EURCHF jumped 60 pips at the same time.

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Has The ECB QE Already Failed? 5 Year Inflation Expectations Decline Since Draghi’s Announcement

Just as we pointed out explicitly yesterday, ECBQE will ‘not’ provide the inflation-expectation-lifting hope that every talking head proclaims as its raison d’etre… just as FedQE did not. We noted previously that Draghi’s actions would likely send the most deflationary signal ever to the world’s policymakers, and sure enough European 5Y5Y inflation expectations have dropped 10bps from yesterday’s highs and round-tripped to the levels seen before Draghi unleashed the money printing machine.

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