Austrian parliament press service with the comments from ECB man Ewald Nowotny
- No longer sees contagion risk for southern Europe
- Investors should focus less on government bonds
- The US normalising monetary policy is a downside risk for Europe
- US mon pol may lead to emerging market capital outflows
- Euro area is still the region with the weakest growth
- ECB QE has led to euro depreciation
Nothing to get the market moving in these comments. I think he's overplaying the emerging market aspect. We saw the EM fit when the taper was the hot topic and markets have had a long time to get adjusted to the possibility of rate hikes from the US