First Portuguese RMBS since ‘07 shows limits of ECB’s reach

First Portuguese RMBS since ‘07 shows limits of ECB’s reach

Tom Porter

March 05, 2015 08:00 PM

draghi signing euro — ECB President Mario Draghi presents the new 20 euro note in the ECB in Frankfurt am Main, Germany, 24 February 2015. Draghi signs an over-sized representation of the note. The design of the note will be changed and will include additional security features. Photo: BORIS ROESSLER/dpa | Boris Roessler/DPA/Press Association Images

The very visible hand of the European Central Bank managed to guide the first Portuguese RMBS since the financial crisis to market this week, writes Tom Porter.

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Tom Porter