ECB President Lagarde made some comments on QT and said it will come up for “discussion and consideration within the governing council in the not too distant future.” QT should be a major positive catalyst for the Euro, but Lagarde’s comments got no response. There are some major risks to ending PEPP reinvestments and the process could take a long time. Markets are slightly weaker on Tuesday and the FTSE has finally broken down out of the tight range it traded in for 6 sessions. There is no clear catalyst, and with such a large rally in November, it is normal for some profit taking and consolidation. Currencies are ... (full story)