AXA explain why ECB QE wont work:
“AXA Investment Managers doesn’t plan on selling much of its assets to ECB under QE, given its investment mandates for specific holdings and a lack of opportunities to put cash received to work. Low yields don’t necessarily mean more lending to the real economy; time and confidence are key elements and last 6 years have shown QE can’t control those.”
ECB crushed those AXA comments with this responsive statement:
QE WILL WORK BECAUSE IT IS BIG
