Good Morning. Today kicks off a week of central bank meetings and government votes with rather large implications for the capital markets. The ECB meeting began Wednesday and culminates on Thursday when Mario Draghi will announce his plan or plan of a plan to save Europe. Once again, Europe will be saved.
But as discussed in the Wednesday Market Recap, his plan is non-inflationary and thus non-impactful. If what was leaked on Wednesday is actually the plan, then any positive impact on risk assets is likely to be muted as was the case with Operation Twist when launched in September of last year.