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Nov. 16th, 2011
9.02am: The word in the City is that the European Central Bank has started "aggressively" buying up government bonds. Not just Italy, Spain too.
The move appears to be working -- the yield on Italy's 10-year bonds is now back below 7% (6.85% as I type). Spain's yield is also down to 6.2% (which still feels too high for a country about to elect a government with a clear mandate to address the financial crisis).
The move appears to be working -- the yield on Italy's 10-year bonds is now back below 7% (6.85% as I type). Spain's yield is also down to 6.2% (which still feels too high for a country about to elect a government with a clear mandate to address the financial crisis).