Spanish long debt interest rates remain above 7.0%. However, Italy's 2 year security is down 175bps and Spain's 2 year is down 200 basis points, since last Wednesday.
Is the ECB buying? There was certainly nothing in Draghi's comments to warrant this decline in EZ rates.
This sure looks co-ordinated to me. Either the ECB is in directly or EZ banks are fronting for the ECB until the ECB gets its technical legal papers in order.
This could be the sign of massive EZ money printing down the road. Emphasis on, could.