Independent Strategy

ECB – slow trains still get to their destination

The ECB did not change its policy interest rates at its first meeting of the year yesterday. And there was nothing in the press statement that will spark a bond market rally. This will keep the euro weak in the $1.08-1.10 range. However, there is enough evidence to think that the Eurozone economy will avoid recession this year. And there is an interesting message for Europe’s corporate earnings.

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