That’s the bottom line. With sovereign bond auctions going well across the Eurozone, and European banks rocking and rolling, one man is the hero of the day. That would be ECB chief Mario Draghi, who replaced Jean-Claude Trichet late last year, and who is the author of the ECB’s generous liquidity operations that have allowed banks to fund themselves on the cheap, freeing up cash for the purchase of sovereign debt.

Mario Draghi

AP

 

By the way, if you’re not caught up, then what you haven’t seen is charts like this one — the yield on the Spanish 2-year bond.

chart

 

Read more: http://www.businessinsider.com/year-of-the-draghi-2012-1#ixzz1jTPOicAT