Patrick O'Donnell

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Patrick O'Donnell is associated, including U.S. and ECB. Most recently, Patrick O'Donnell has been quoted saying: “Post the U.S. elections and Italian referendum the market is overwhelmingly expecting unchanged monetary policy. The risk is we get a more hawkish interpretation of inflation dynamics... and any whiff that they are not committed to the asset purchase programme will see the market react negatively.” in the article GLOBAL MARKETS-Stocks, euro push higher as ECB stimulus plan looms. An other article where Patrick O'Donnell has been quoted is After record highs, traders eyeing Europe.

Patrick O'Donnell quotes

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This is an issue for France but if Le Pen were to win, then it's an issue for the concept of the euro zone as a whole. I think the markets would vote with their feet first of all and spreads would widen significantly.

Post the U.S. elections and Italian referendum the market is overwhelmingly expecting unchanged monetary policy. The risk is we get a more hawkish interpretation of inflation dynamics... and any whiff that they are not committed to the asset purchase programme will see the market react negatively.

If there's any hint the ECB isn't fully committed to the current QE program, bond markets would sell off and the spread would widen.

It's going to be a bit of a communication challenge for Draghi tomorrow. It's going to depend on how well he communicates in the Q&A session tomorrow. It's going to be pretty tricky I think, because of the growing consensus in the Governing Council that the current policy is doing more harm than good.

If Italy can't sort out its banks, then they will be in a real mess. Once again Europe finds itself in a position where politics, the ECB and the banks are dangerously entwined.

Fundamentally there's no reason to taper as they are not close to achieving their inflation mandate.

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