ECB emergency meeting pledges sovereign bond support
Governing council says eurozone will accelerate efforts to create “anti-fragmentation mechanism”
The European Central Bank’s governing council announced it would essentially support under-pressure eurozone sovereign bonds after holding an unscheduled meeting today (June 15).
It also said it would speed up work by the Eurosystem on a new financial mechanism aimed at reducing stresses on some countries’ bonds. Bond markets reacted positively, with the yield on Italian 10-year sovereign debt falling by 0.36 percentage points to 3.86% after the ECB’s announcement.
The governing council’s last
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