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- ECB announcements on Thursday support a steeper yield curve - PIMCO
ECB announcements on Thursday support a steeper yield curve - PIMCO
The European Central Bank's announcements on Thursday support a steeper yield curve, says Andrew Bosomworth, Pimco managing director and head of German portfolio management, cited by Dow Jones. He points to the increase in the number of bonds at the front end of the yield curve which are eligible for the asset purchase program, coupled with some national central banks' revealed preference to buy shorter-maturity bonds. The ECB altered its program so that it can buy bonds down to one year of residual maturity, reducing the previous lower bound of two years.
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