ECB’s Constancio: We do not see any reason to change baseline economic scenario

European Central Bank (ECB) Vice President Vitor Constancio crossed the wires last minutes, via Reuters, commenting on the bond markets, while adding that the central bank has always played a stabilizing role in the markets.

Key Headlines:

Institutional investors are important to bond market, means we won’t see very abrupt correction

We do not see any reason to change baseline economic scenario

ECB has always exerted stabilizing role in preserving favorable financing conditions, will continue to do so

Will continue to fulfill that role if other shocks emerge

Have to be attentive and able to respond

Difficult to anticipate consequences of Italian referendum