By Chris Becker
Last night the ECB released details of its QE program, which starts in a few days time with €60 billion Euro purchases each month. Alongside, the BOE announced no changes to its interest rate or its own QE program while in the US, factory orders slipped as initial jobless claims surprised slightly on the upside.
The bond markets were happy to say the least, with all European bond yields falling 2 to 10 pips, while the US 10 year Treasury was unchanged.