Report: ECB To Begin QE In January

Bloomberg News reported that the European Central Bank is considering adopting an asset purchasing program, or QE, which would include sovereign debt as early as next month. This was according to two euro-area officials familiar with deliberations. Earlier, ECB President Mario Draghi had dashed hopes for a QE announcement following the policy meeting, saying they would wait until next quarter before deciding. Whether the rumor of adoption of European QE is debatable, the U.S. equity markets spiked amid the release of the Bloomberg story. The S&P 500 futures moved from 2071 to 2077 in the minute the story was released. Subsequently, the futures have retreated, giving back almost all of the rumor driven gains, trading recently at 2072.25.