ECB data shows Italy, France, Greece, Spain most active propping up their bond markets

Looking at this data showing central banks most active propping up bonds in the euro area and the comparing to what “pure play private banks” like Julius Baer hold on their balance sheet does make you wonder about the sustainability of the ECB purchases and what effect it has on the bond market.

central-bank-bond-buying-scale-size-2016-data

The data below shows what Julius Baer invests billions in. Especially debt instruments and there financial institution bonds caught my eye.

Julius Baer
Financial investments available-for-sale
Money market instruments 2’723.00 15.65%
Debt instruments 14’518.00 83.45%
Government and agency bonds 3’411.30 19.61%
Financial institution bonds 6’406.30 36.82%
Corporate bonds 4’649.40 26.73%
Other bonds 51.00 0.29%
of which quoted 13’532.50 77.79%
of which unquoted 985.50 5.66%
Equity instruments 155.80 0.90%
of which quoted 16.10 0.09%
of which unquoted 139.70 0.80%
17’396.80

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