Read this quote and read it carefully.
Then read the article.
"By partially replacing term funding in the form of more expensive bank bonds, the [redacted]
can create a scarcity of investible assets, which will result in lower
yields and easier market funding conditions even for banks that have not
taken part in the operations."
It's from today's issue of Minyanville. Here is the link.
http://www.minyanville.com/special-features/from-the-buzz-banter/articles/Who-Said-It-Public-Official-Behind/
Anyone who appreciates clear, concise English, anyone who ever read George Orwell's article about debasing a language, anyone who even faintly claims to care about good communication, ought to read this.
But there's a bigger point as the article rightly points out. Buried in here is an opportunity mixed, to be sure, with a bit or mirth. Or should we just call it what it is, central bank humor.
t. man hatter
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