(Frankfurt)

New data on the EU economy has just come in and it isn’t pretty. Overall, the bloc grew just 01% in the fourth quarter, while Italy and France actually contracted. According to Commerzbank, “The spectre of recession is back … Economic growth in the eurozone came to a virtual standstill at the end of the year . . . The ECB is likely to view this with concern”. Ironically though, this may be positive for market as the ECB is likely to take an even more dovish approach.

FINSUM: It feels like we just did a time warp back to around 2013, when central banks were ready to stick to ZIRP for years. We all know how stocks performed then!