Imagine a real downturn emerges. The ECB, by insisting on negative rates and QE so long, has opened itself up to having virtually no ammunition left to respond.

https://twitter.com/NorthmanTrader/status/1065903790711279616

https://twitter.com/minefornothing/status/1065973006617456640

Bank of Italy sounds the alarm over banks’ stability https://t.co/qqyGVahW3w
— LiveSquawk (@LiveSquawk) November 23, 2018

Oil slump leaves just one European equity sector up in 2018 https://t.co/LPp6TRNKXD pic.twitter.com/iYxLQwXq3C
— Bloomberg Markets (@markets) November 23, 2018

Spain CDS soars to YTD highs as budget shows massive inconsistencies
-Spain is not too far behind Italy. Where have all the ECB QE gone for the last 3 years? https://t.co/mfWrN9DTmJ
— Kerberos007 (@kerberos007) November 23, 2018

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