ECB’s LTRO ‘bazooka’ struggles to find target

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ECB’s LTRO ‘bazooka’ struggles to find target

With the first offering set for this Wednesday, bankers are disputing the likely effect of the ECB’s new long term refinancing operations. While some doubt that cheap funding of sovereign debt carry trades will prove a "back door bazooka", as some FIG bankers are calling it, others see it increasing demand for senior FIG debt.

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