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As D-Day Looms, The Maturity Of ECB’s Bund Purchases Drops Again

zerohedge.com / by Tyler Durden / Aug 7, 2017 11:13 AM

With every passing month, the ECB gets closer to its (QE)D-Day: the day when it runs out of bonds to buy, which according to recent calculations could take place in just a few months unless the ECB taper its bond purchases soon.

In its latest monthly purchase, the ECB revealed that, according to Bloomberg calculations, the estimated weighted average maturity of purchases of German bonds under the ECB’s PSPP in July declined once again to around 5.18 years vs 5.33 years in June, although it was modestly higher compared to the record lows of 3.99 years in May and 4.7 years in April and March.

Curiously, as the average maturity of Bund purchases dipped, all other nations saw a modest increase, while France soared to the highest on record:

  • France avg. maturity at 14.8y vs 8.8y prior
  • Spain avg. maturity at 10.8y vs 8.3y prior
  • Italy avg. maturity was the longest seen under PSPP program at 11.5y vs 9.2y prior

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