There seem to be some interest in this piece in the market from ZeroHedge on the ECB garnering fewer bids than necessary to drain the EUR 55 bln it has added to the money markets via its bond purchases over the last month or so.
MNI says banks are hording cash this week in anticipation of the expiration of the E442 bln LTRO on Thursday. Not that big a deal, it would appear.
