Yields in Spain, Italy Surge After Hope of ECB Intervention Dies; Italy 15-Year Yield Highest on Record; How Much More "Success" Can the ECB Take?

"Early this morning I was watching yields on European government bonds. Italy and Spain were lower. I was wondering if the ECB had stepped in. However, in what will be billed as a "successful" auction, rates headed North.

At 8:02 AM Reuters reported Italy,Spain bonds stabilise on ECB support speculation.

Italian and Spanish bond yields came back off 14-year highs on Thursday due to a well-bid Spanish debt auction and speculation that Japan's intervention to weaken the yen will inspire the ECB to revive its dormant bond-buying programme..."

at  http://globaleconomicanalysis.blogspot.com/2011/08/yields-in-spain-italy-surge-after-hope.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29