So, it's the main event today... the ECB meeting! David's thoughts are here [https://mailchi.mp/macrodesiac/lets-shine-a-light-on-tomorrows-ecb-meeting?e=801d7fd37b] . The ECB "sources" piece that Bloomberg ran yesterday was good for a 70 pip rally [https://www.bloomberg.
Big Banks Sit on $250bn of Murkiest Trades After Covid - (BBG)
The banks are now sitting on hard-to-value trades that they say are worth about $250 billion, including categories that gained notoriety during the financial crisis, such as complex debt securities.