by Mike ‘Mish’ Shedlock
On March 10, ECB president Mario Draghi pulled out his bazooka and fired what was supposed the be a shock and awe blast of QE that would sink bond yields and the euro.
Instead the euro rallied along with yields on European bonds. Traders front ran the the announcement and the trade is unwinding.
European bonds had their worst month since August.
Bloomberg reports ECB QE Boost Can’t Save Euro Bonds From Worst Month Since August.