Amid Vigilante Attack, ECB Will Buy At ‘Significantly Higher Pace’

The ECB is dealing with the same dilemma as the Fed, the RBA, the BoJ, and other developed market central banks. Namely, whether rising bond yields (a "vigilante revolt," if you want to dramatize the situation) pose enough of a threat to the fledgling economic recovery to warrant further policy intervention. So far, the Fed's answer has been "no," or, more accurately, Fed officials have generally tried to put a positive spin on higher yields, characterizing rate rise as indicative of the market