Updated: 2015-01-30, 16:00:51 ET
The Interest Rate Outlook
- On Thursday, the European Central Bank launched its highly anticipated quantitative easing program.
- The central bank will purchase EUR60 bln per month of securities, 33% of which will be sovereign debt.
- Buying will continue until September 2016.
- The newly minted program will not discriminate against securities with a negative yield.
- Aggressive post-announcement buying has pushed yields across the eurozone to fresh record lows.
- Germany's 10Y touched 36bps.
- France's 10Y flushed to 52bps.
- Italy's 10Y slid to 1.49%.
- Spain's 10Y sank to 1.25%
- Attention now turns to Sunday's Greek election where it is expected the anti-euro Syriza party will take control of parliament.
- Greece's 3Y is down to 10.14% ahead of the event after hitting a high of 15.80% on January 6.