European Bond Yields Are Crashing

It appears Draghi has done it again. Since last week's dovish ECB QE taper, European sovereign bond yields have plunged and today are accelerating notably lower with Italian 10Y yields crashing 10bps to 2017 lows...

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This is the lowest yield since the start of the year...

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Even Spanish debt is bid...

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And Catalan debt is also being bought..

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However, Spain is at its riskiest compared to Italy in 12 months...

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Once again Draghi proves - "It's not the economy, stupid"