A diary of the thought process behind my investment decisions
The ECB Will Be Awaiting Us
When we return on Thursday the ECB decision will already be awaiting us. My guess is that we see a rate cut and LTRO III. The initial reaction will likely be higher but it should start to fade by Friday as we would be very extended. Anything short of that is likely to disappoint and will likely lead to an ugly decline. Have a Happy Fourth of July.