The Daily Shot, 9.9.16

By SoberLook

1. We begin with the Eurozone where, as many economists had expected, the ECB did not change its policy. The central bank downplayed the impact of Brexit, which is projected to hit Germany the most. Draghi suggested that the EMU governments should step up efforts to boost growth, in effect acknowledging that the ECB has done all it can (for now).

Source: WSJ

2. Indeed, German economy may be hitting a soft patch (discussed yesterday) as investment outlook weakens.

Source: Deutsche Bank, ‏@joshdigga

3. Nonetheless, the euro area shows signs of “green shoots” as retail and auto sales recover sharply after the Eurozone debt crisis.

Source: Credit Suisse, ‏@joshdigga

4. Here are the ECB staff’s GDP and HICP inflation projections.

Source: Natixis, ‏@joshdigga

Source: Natixis, ‏@joshdigga

5. Below is an overview of the ECB’s corporate bond buying – by country, industry, maturity, and rating (from UBS).

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