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 Strategies & Market Trends : The Financial Collapse of 2001 and Beyond

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To: bart13 who wrote (85155)12/28/2011 3:32:05 PM
From: pater tenebrarum5 Recommendations  Read Replies (3) of 101221
 
Bart, I would note though that EONIA is per se not a good indicator of interbank lending stress. Euro FRA-OIS and euro basis swaps are more indicative of what is happening.

bloomberg.com 

bloomberg.com 

Both show that funding stresses have been relieved a little bit since the ECB's LTRO, but remain high (year end is always demanding for bank liquidity, as balance sheets need to be prepped to look better than they are).
That said, I for one would not underestimate the inflationary effects of the ECB's latest measures. ECB balance sheet growth over the past year is 36% and the last month annualized comes to 100%.
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