It’s not instantly obvious whether the LTRO number was “good.”
The 529 billion Euro take-up was basically right in line with expectations.
The euro has dropped a bit.
But in a key market, Italy, the news is being greeted with cheers.
The Italian 10-year has dropped below 5.30 per cent, and the FTSE MIB stock index is up 1.25 per cent, having spiked a bit extra in just the last few minutes.
Photo: Borsa Italiana