Summary Of Wall Street Expectations For Tomorrow's Hail Mary LTRO
As pointed out earlier, today's manic shift in market sentiment is being squarely attributed to the latest deux es out of Europe - the last Hail Mary attempt to come out of Europe - the 3 year LTRO, which was announced 2 weeks ago. So before said machnia becomes a flop ex, here is, courtesy of Bloomberg, a summary of Wall Street's expectations for what tomorrow will bring. Incidentally, the reason why the bulk of outlooks on the LTRO are negative, is because all this action does is push any real action from the record-levered ECB (whose balance sheet can be seen in its full perspective here) further back, and forces Europe's banks (and numerous American ones) to hope and pray they can survive one more [day|week|month] on their own without real central bank support.
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