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Draghi May See Silver Lining in Disappointing Investors

From bloomberg.com

Mario Draghi might not be too worried about disappointing investors this week. As markets look for the European Central Bank president to unveil details of his bond-purchase program on Sept. 6, Italy and Spain are showing little willingness to request aid from Europe’s bailout fund -- a pre-condition for the ECB to start buying their debt. A jump in bond yields may remind governments that they need to act first. “The market is expecting a lot from the ECB,” Gustavo Reis, an economist at Bank of America Merrill Lynch, wrote in a note to clients. “However, we look for little clarification on the bond-buying program. ... (full story)

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