Credit Investors Are Suddenly Freaking Out: BofA's Clients "Seem Equally Worried About Every Risk Right Now"

While it may be the "week from hell", there is one specific event that stands out to BofA's credit team: since the outlook for financial markets is mostly about the transition of global monetary policies from QE to QT,and since as discussed here on countless occasions over the past year, the adverse effects of US QT are mitigated by ECB and BOJ QE (and negative foreign interest rates), to BofA this makes the ECB meeting on Thursday the most important of many events this week,as Peter Praet has confirmed the ECB will be discussing how and when to end QE.