Sep 25, 2022·edited Sep 25, 2022Liked by Edelweiss Capital
Great take as always, thank you! Deval is indeed rather just a short term thing like pulling the dust under the rug ... but used extensively to extend/mitigate 'political/career' gain/risk and dressed up as a 'solution' ;)).
It reminds me the half joke half truth in terms of ECB and monetary policy transmission: 'Draghi walks into a bar. Bartender asks "Why did you need another TLTRO?". Draghi says "because the first one didn't work". My own 2019 'extension' with the MRO included:
This was a very interesting read. Thank you!
Great take as always, thank you! Deval is indeed rather just a short term thing like pulling the dust under the rug ... but used extensively to extend/mitigate 'political/career' gain/risk and dressed up as a 'solution' ;)).
It reminds me the half joke half truth in terms of ECB and monetary policy transmission: 'Draghi walks into a bar. Bartender asks "Why did you need another TLTRO?". Draghi says "because the first one didn't work". My own 2019 'extension' with the MRO included:
https://twitter.com/Maverick_Equity/status/1088756505388744705
Have a great weekend!