well it could be the fact that despite draghi pledging to do "what ever it takes" he will not lend a $ until countries capitulate to EU technocrat rule. so if you don't have a central bank capable of printing money, then in order to keep your bond yields down who else can buy them well...97% Of the Spanish Social Security Pension Fund is now invested In Domestic Bonds .
meanwhile it seems money is leaving Italy in droves after UniCredit's CEO today proudly warned everyone he is all for confiscating uninsured deposits as long as "everyone else is doing it"
or behind door 3 isa it Japan who plan to double their monetary base (does that mean halve the value of each yen??) by pointing 7,000,000,000,000 yen a month !!!!!!!
ooh i almost forgot that the Portuguese govt only just passed a vote of no confidence this week
place your bets please