Quantitative Easing (QE) because the ECB's (Public Sector Purchase Program) PSPP program involved the purchase of the bonds of … bonds of the own sovereign by the national central bank should increase the risk for the remaining private bond holders … announced. However, the initial fall in risk premia might have been due to the expectation of the bond being effective in …

Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area … bank of the bonds of their own sovereign should increase the risk for the remaining private bond holders. This might seem … initial fall in risk premiums may have been due to expectations of the bond purchases proving effective in lowering risk …

ECB President Draghi himself, monetary policy cannot determine long-term rates directly, and its influence on long …-term real rates is even more limited and indirect.Moreover, long-term bond yields have fallen to unprecedented low levels … throughout developed countries. The influence of any single central bank on bond yields in its currency area must be quite …