IEV - Eurozone Weakness Expands
By Landon Whaley
European Central Bank ((ECB)) President Mario Draghi's Dilemma was one of our most profitable macro themes during 2018. The combo platter of a continued deterioration in growth data alongside a massive policy mistake by the ECB is providing us with even more opportunity from this theme in 2019.
While Draghi and the ECB continue to reinvest proceeds from maturing securities and expand the ECB's balance sheet, it's clearly not enough. We've been updating this macro theme for almost 12 months, and just when you think the data can't deteriorate any further -