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Fasdal: As QE begins look out for the risk factors

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The ECB begins its monthly 60 billion Euro QE programme this Monday. Saxo's head of fixed income, Simon Fasdal, says the market is still reacting positively to the news, as bond yields in Southern Europe move lower.

Fasdal says that riskier assets in Europe have been well supported off the back of the ECB but he warns that there are other risk factors at play. The first is Greece and the second the US as the Fed considers whether or not to impose a rate hike.

Fasdal does acknowledge that there have already been big rallies in European equities and he expects that to continue. He also says the ECB's mission is to weaken the Euro in order to help European companies.