Scrutinising the Draghi tie indicator
Ever wondered if the powers that be like to signal their true intentions to others in the know via secret gestures or codes?
Finance Twitter has.
And the basis of the most popular conspiracy (fanned somewhat by the FT's own Katie Martin) is that the colour of Draghi's tie determines what the ECB's stance on monetary policy will be.
A red tie at night, bullish delight. A cool blue in the morning, hiking is stalling.
The question is: is it just a theory or is there actually some correlation between Draghi's wardrobe choices and monetary policy outcomes?
In a bit of pre-Christmas fun that's just come our way, Louis Harreau, ECB strategist at Crédit Agricole, has set out a comprehensive analysis of the would-be Draghi-tie indicator.