BTPs Breach 87 Support, 86.955 Last, ECB Makes A Political Statement By Not Intervening

Everyone hoping the ECB would step in today and buy Italian bonds... has been disappointed. Has Draghi finally decided to make a political statement and kick Berlusconi out by send the 10 year to new all time lows? So it would appear: the 10 Year price just dropped below 87 for the first time, and the Bund-BTP spread rapidly approaching the LCH margin hike-inducing level, last at 490 bps.