文章基本信息

标题：The ECB’s magic wand
本地全文：下载
作者：Zsolt Darvas ; Zsolt Darvas
期刊名称：Intereconomics
印刷版ISSN：0020-5346
电子版ISSN：1613-964X
出版年度：2012
卷号：47
期号：5
页码：266-267
DOI：10.1007/s10272-012-0427-6
语种：English
出版社：Springer
摘要：We know there is no magic. But after a clever trick by the magician and a wave of the magic wand, the audience still applauds for quite some time. The new magic wand of the European Central Bank (ECB), Outright Monetary Transactions (OMT), has so far resulted in the 2-year Spanish gov- ernment bond yield falling from a 15-year record high of 6.9% in late July 2012 to below 3% in early September 2012. Longer maturity yields have also fallen somewhat.