What do you think will be said in the conference after the rate decision today? Something along the lines of "no core inflation, oil price inflating some components, no wage inflation, rates appropriate, we're sitting on our hands as for the last 28 months but remain vigilant on price stabilty" YAWN! One of PIMCO's german fund managers said no rate change through 2006! Bore off. Surely Trichet must be getting itchy fingers to do something he's done nothing to rates since he took his post. I hate his aversion to market volatility too, some of us love it Say something market moving Trichet without the "owever" reversal comment!
Something market-moving, that's what. The press conference is always good for a bit of excitement. Just compare morning and afternoon in the Bund today.
I remember a couple of years ago Welteke came out with a market moving comment and five minutes later reuters reported him saying "that comment was a joke" ohhh the good old days, those japesters
Different strokes for different folks - I hate this violent sideways stuff. Bund was EXACTLY in the same place before and after the press conference.
A lot of money was lost and made. Eurex had another field day. Had my biggest round-trip day over it.