It would seem that Draghi is all bark and no bite. Investors overnight disappointed that the ECB not only did nothing but also announced bugger all really. He announced some bond and other asset purchases over the next 2 years in a futile attempt to lift inflation. It is not enough and one gets the feeling that the “additional measures” he keeps talking about are not going to happen. Maybe he is hoping that the talk of it will be enough, not the implementation of it. Perhaps they have not agreed on the best method/strategy. Either way, what he has done is nada and inflation will remain stagnant for some time. The Eurodollar bounced a little on the fact that no stimulus is coming. I think they miss the point, the point is that the Euro economy will remain in the doldrums for the foreseeable future (most of 2015 now) and your money should be going elsewhere. I would look to sell as this minor rally stalls.
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