The Mumble: Don’t blame it on the central bankers

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The Mumble: Don’t blame it on the central bankers

Bankers are snarking that the European Central Bank’s latest move to cut the deposit rate to negative has stifled supply by unwittingly penalising public sector issuers for holding cash. But the real reason for the lack of supply is a good one: it stems from confidence in the outlook for the eurozone.

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