ECB likely to extend lending unlimited funds at fixed

At least part of the ECB has repeatedly shown they do understand monetary operations and that it’s about price and not quantity.

Subject: RTRS-ECB LIKELY TO EXTEND LENDING UNLIMITED FUNDS AT FIXED

RTRS-ECB LIKELY TO EXTEND LENDING UNLIMITED FUNDS AT FIXED
RATES INTO START OF Q3 AT MARCH MEETING-EURO ZONE MONETARY
SOURCES
RTRS-SOME AT ECB CONCERNED ABOUT KEEPING LONGER-TERM OPS AT
FIXED RATES FOR TOO LONG- EURO ZONE C.BANK SOURCES
RTRS-IMPORTANT TO PROVIDE INSTRUMENTS TO COVER 12-MONTH TENDER
MATURING ON JULY 1

on the back of above headlines
-curve steepening back, 2bps move
-front end bid
-pers better bid (Greece 5bps move)

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