Wednesday, 29 February 2012

European Monetary Union - ECB LTRO auction @ 529.53B

A regular open market operation executed by the Eurosystem in the form of reverse transactions. Such operations are carried out through a monthly standard tender and normally have a maturity of three months. The monthly longer-term refinancing operations (LTRO) aim to provide liquidity to the financial sector.

Banking stocks posted the strongest gains, as investors added exposure to the sector ahead of the LTRO by the ECB but on the results we saw the stocks and euro take a dip.

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