“Whether the delivery was not great or the market is not yet ready to listen, the pushback did not appear direct or strong enough to the market,” they said. Analysts at Bank of America said the ECB appears too focused on upside inflation risks and relaxed about 2022 supply pressures, based on remarks by ECB President Christine Lagarde.
The rally still hasn’t full unwound the widening of the Italian-German bond spread seen after last week’s European Central Bank rate decision.
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