ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July
The European Central Bank (ECB) used reinvestments from maturing sovereign bonds to support countries under stress in June and July.
Data released on August 2 show that during these months, the central bank rebalanced €26.8 billion ($27.24 billion) of securities bought both through the Asset Purchase Programme (APP), and especially the Pandemic Emergency Purchase Programme (PEPP).
The ECB rebalanced €18.9 billion purchased under the PEPP, €14.3 billion from maturing German bunds, €3.4 billion
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