Citigroup says the ECB will use up its €750 billion total by early September
This comes as the ECB purchased bonds at the fastest pace last week under its PEPP scheme, as can be seen by the table below:
h/t @ fwred (Frederik Ducrozet)
As such, Citigroup has revised its estimate - previously mid-October - to see the ECB reaching the €750 billion total by early September instead, assuming the current pace from last week is maintained throughout (the average of the six weeks still suggests mid-October).
"We believe that the best cure would be for the ECB to keep up a higher purchase pace with no/good news rather than just contain bad news."
Again, all this just means the ECB will have to announce an expansion to the size of PEPP sooner rather than later. So, let's see what they have in store for us at the 4 June monetary policy meeting next.
