Job done? ECB buying soothes but market picks bail-out holes

European Central Bank purchases of government bonds — as much as Eu25bn, said some sovereign DCM specialists — and liquidity support for the region’s banks settled nerves and yields in equal measure this week. But questions over the long term operation of the Eu750bn offered by the European Union and International Monetary Fund stabilisation package went unanswered, potentially opening the door for renewed bouts of volatility.