Market Recognizes ECB Move as Tapering: Nielsen

The transcript discusses the market's interpretation of the ECB's tapering announcement, highlighting the flexibility in their approach and potential German influence. It raises questions for the ECB's press conference regarding economic and inflation outlooks. The market's reaction, including rising yields and euro strengthening, is analyzed, with concerns about the reasons behind tapering. The impact of monetary tightening on the market is also discussed.

In what way does the speaker relate the asset purchase program to the risk of deflation?

What implications does the speaker suggest about the market's reaction to the announcement?