Euro, Bund Yields Jump As ECB Changes Language On QE

Well the euro is surging and bond yields are climbing after the ECB removed the reference to raising asset purchases from the policy statement.

You can read the full story on the tweak to the APP forward guidance here, but this is the red line which shows the removal:

Here’s EURUSD:

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And here’s bund yields:

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This is obviously bond bearish and probably bearish for risk assets as well depending on how Draghi manages the message.