MW: ECB settled 4.48 bln euros in bond buys last week
By William L. Watts
FRANKFURT (MarketWatch) -- The European Central Bank last week settled 4.48 billion euros ($6.12 billion) of government bond purchases, down from 9.52 billion euros the previous week, according to data released Monday. The settlements may not reflect bond purchases made toward the end of last week but settled early this week. Still, economists had largely expected the figure to rise as the ECB appeared to boost Italian bond purchases last week after Italian bonds plunged, sending the 10-year yield IT:10YR_ITA -0.84% temporarily soaring above the crucial 7% level. The data indicates the ECB may have been reluctant to step up purchases aggressively as it awaits further signs Italy's new government will succeed in implementing new austerity measures and economic reforms, said Nick Stamenkovic, economist at RIA Capital in Edinburgh. The ECB doesn't provide a breakdown of bonds purchased by country under the program.
