ECB intervenes as govvies pummelled

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ECB intervenes as govvies pummelled

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(200312) -- FRANKFURT, March 12, 2020 (Xinhua) -- European Central Bank (ECB) President Christine Lagarde (R) speaks at a press conference at the ECB headquarters in Frankfurt, Germany, March 12, 2020. The European Central Bank (ECB) on Thursday decided to leave key interest rates unchanged but rolled out a comprehensive package of monetary policy measures to ensure liquidity support amid COVID-19 concerns. (ECB/Handout via Xinhua) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. | unreguser/Xinhua News Agency/PA Images

Eurozone government bond yields jumped higher early on Wednesday morning, unmoved by reports of a potential breakthrough for the issuance of common EU debt instruments. The European Central Bank is suspected to have stepped in to try and control the situation, with spreads to Bunds having moved to their widest points for a year or more.

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