The Power of Central Banks

In Europe, the transformation in the sovereign debt market since Mario Draghi’s “whatever it takes” promise in July 2012 has been remarkable.  Ireland, which just exited an IMF bailout program in December, can now issue 5-year debt at yields well below 5-year Treasuries.

PIMCO Secular Outlook, May 2014 – The New Neutral

About Steven Engelhardt, CFA, AIF
Adjunct Professor of Software Engineering at DePaul University • Software Engineering, Data & Analytics in FinTech • Lives in Chicago, IL

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