Bonds Need Confirmation of a Shock to Take Yields Lower: Pimco

The transcript discusses recent trends in the global bond market, highlighting a sell-off due to concerns over growth and inflation. It speculates on the European Central Bank's (ECB) potential actions, focusing on their goal to bring inflation back to target. The ECB is expected to implement a package including a small rate cut, resumption of the asset purchase program, and adjustments to the TLTROs. The discussion also touches on the balance between hawkish and dovish views within the ECB.

What factors are causing fear in the global bond markets according to the text?

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What is the expected action of the ECB regarding interest rates?

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What are the implications of the deposit facility rate on bank profitability mentioned in the text?

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How does the text describe the potential asset purchase program by the ECB?

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What consensus is expected from the ECB Governing Council regarding their upcoming decisions?

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