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Category Archives: VOMIT

Voluntary Outright Monetary Intrusive Transactions (VOMIT)

The ECB’s new program to buy Spanish sovereign bonds -therein supporting the price and driving down the interest rate- is called Outright Monetary Transactions (OMT). I thought this title had all the charm and descriptiveness of Quantitative Easing –which is to say none.  The program name and acronym -OMT- falls short of its full potential because it does not account for 2 key descriptors: […] Read the rest of this entry »