Draghi urgency peps periphery ahead of Italian auctions

It might not quite rank with his “whatever it takes” speech from 2012 in terms of slashing eurozone periphery sovereign yields, but European Central Bank president Mario Draghi’s claim on Friday that the central bank will do “what we must to raise inflation and inflation expectations as fast as possible” had an instant effect on periphery performance. Italy is first in line to benefit, with a series of sales lined up for next week.