ECB slow pokes, get ur shorts on!

From The NY times:

The European Central Bank said Monday that it had spent 26.5 billion euros buying government or corporate bonds since it began the debt purchases May 10, an amount that some analysts still consider inadequate to stabilize the euro zone’s financial system, Jack Ewing reports in The New York Times.

“The central bank has massive firepower but is not deploying it yet,” Silvio Peruzzo, an analyst at Royal Bank of Scotland, said in an e-mail message.

The disclosure Monday, in a routine announcement on the central bank’s Web site, indicated that the bond purchases in the week ended Friday were a relatively minor 10 billion euros, or $12.4 billion, after purchases of 16.5 billion euros the previous week. The bank has not disclosed what kinds of bonds it has been buying.

Yields on paper issued by Greece, Portugal, Spain and other highly indebted euro-zone countries have plunged since the central bank began the purchases. But though the purchases have achieved their goal of halting a sell-off of sovereign debt, the amount is still small compared with the total volume of bonds in circulation.

In a report issued earlier Monday, analysts at Royal Bank of Scotland estimated that European banks, insurance companies and other institutions hold some 2 trillion euros in government and corporate debt from the so-called peripheral euro zone countries.

LOL....I think every trader is calling the ECB on 25 billion in purchases so far for the month, cuz they are slow-walking the buying process. Come on, short Euros are going to come at them with everything they have. Still got 970 billion Euros to go!

This is the Fed Reserve Balance sheet.

Fed Balance Sheet (source: zero hedge)

You can see how ridiculously responsive the Fed was at QE. Thus we had a big rally! Come on ECB! Do it for the love of Money!

Euro FX futures