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SSASovereigns

Muted TLTRO take-up boosts sovereign QE prospects

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The take-up of the European Central Bank’s Targeted Longer Term Refinancing Operation, widely seen as an indicator of whether the ECB will look to buy sovereign, supranational or agency paper in 2015, on Thursday was at the lower end of expectations — meaning that the ECB is more likely to expand its bond buying operations.

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