Today's European-style QE kicked off a huge bond rally, sending yields on Irish and Portugese...

|By:, SA News Editor

Today's European-style QE kicked off a huge bond rally, sending yields on Irish and Portugese government bonds plunging; Spanish and Italian bonds also saw big yield drops. The ECB's apparent buying stunned the market and, as Randall Forsyth notes, whether by design or not, the shorts would have been burned badly.