Spanish and Italian 10-year yields have jumped nearly 20 and 30 basis points, respectively, in the last few minutes, since European Central Bank President Mario Draghi began his press conference at 8:30 AM ET.
This likely reflects renewed doubts about the Spanish and Italian governments’ ability to pay off their debts, since the ECB has announced no definitive new measures that would push borrowing costs down.
Check out yields on the Spanish 10-year so far today:
The Italian 10-year is going nuts, too. It’s up about 30 basis points since the start of the presser: