of course the markets generally want to push interest rates up, as the government debt of these bankruptcies is being sold off. but the ECB has clearly introduced yield curve control here and is trying to keep interest rates in check so that government budgets can continue to be financed.

TomK

Alright, but in this context, there is an upward trend in German bond yields, is that right? I briefly examined the French yields and they appear to be steady.

0xbitcoiner

econ

France: interest rate spread between French and German bonds closes again

yes, but that is implicit. that is the difference in interest rates between the ten-year bonds of France and Germany. relative interest rates are the only thing that counts on the markets in order to allocate capital. that is why the ECB and its partner banks are intervening in the American bond market, so that interest rates there do not run up so high and attract capital.