It's the ECB's Turn to Step Up
November 09, 2011 at 09:37 AM EST
The yield on Italian 10-year debt skyrocketed overnight, going from roughly 6.7 percent yesterday to 7.3 percent. And that is with the ECB buying Italian bonds - in fact there has been active speculation that they are almost the only buyer of those bonds. This has effectively torpedoed the EFSF.
