It is all about the ECB meeting today.   The market was hoping for more details last month, but Draghi pointed to today.  The broad issue is well known.  While growth has been strong, price pressures are still not, according to the ECB, on a durable path toward its “close but lower than 2%” target.  The ECB judges that substantial additional stimulus is needed.
It is currently buying 60 bln euros a month in assets, that consist of mostly sovereign bonds, but includes supras, corporates, and asset-backed securities. At the same time, investors seem to accept that under the current self-imposed rules, which the ECB has modified in the past, there are about 300 bln euros in eligible securities that can be bought by the Eurosystem next year.
Can’t fight the fed. ! Here too they prop up the market with buying asset backed securities. What happens when they quit buying the sov. bonds? Nobody else will, keep printing away. They don’t even have to print it, just click.  I listened to a good video where the Feds’ game of lowering rates thru out the years has made house prices more affordable thereby making people think they are richer and then going out getting Helocs. ( lines of credit). Spend it, need some more, no problem rates just went down and we can refinance again.” Why even save for a car when interest rates are zero, that’s why we bought a new car.!” Hear this one all of the time . Many retirees mortgage the house in the golden years and let the pension cheque cover the payments, good idea until the cheque bounces. It is still money out of the pocket every month . Such a relaxed , complacent culture we have turned into.
Dollar up= oil up ????  higher mining costs????