Draghi's First Stick-Save

Tyler Durden's picture

As BTPs broke 450bps over Bunds and approached the dreaded 88 handle, suddenly someone decided 6.3% yields were more than acceptable (and well worth holding over a weekend including the Greece vote!!). It seems the SMP is back in action with Draghi at the helm...it certainly seems he has no problem for now purchasing bonds!!

Chart: Bloomberg