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FIGCovered Bonds

ECB steps back from CBPP3 but price distortions still evident

ECB sign 230x150

March data from the European Central Bank showed that it has continued to reduce the share of bonds it buys in the secondary market, a trend that has been running since August 2016. Total purchases have also been falling for well over a year, but despite this slow-down, major price distortions continue to exist.

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