Mr Bond estimates current central bank bond buying has cut 10-year US Treasury yields by between 50 and 100 basis points.

邦德估计，各国央行当前这种购买美国国债的力度，已将10年期美国国债的收益率压低了50个至100个基点。

youdao

With Italian bond yields soaring, the European Central Bank was forced to step in.

因为意大利债券收益率飙升，欧洲中央银行被迫插手干预。

youdao

This could open up the short-dated market – and is preferable to the secretive bond purchases by the European Central Bank.

此举可以打开短期市场——而且比欧洲央行秘密购买债券更加可取。

youdao

And third, the ECB governing council would itself have to decide that central bank bond purchases are also needed.

BBC: Draghi will do what it takes (give or take)

Investors in U.S. Treasurys will closely watch the Federal Reserve's policy statement this week, and any talk of reining in central-bank bond purchases could hit a nerve.

WSJ: What's News

The ESM is an integral part of the European Central Bank's bond-buying scheme, announced on Thursday.

BBC: Soros calls for Germany to 'lead or leave euro'