Spanish 10-year yields just fell below the important 7 percent benchmark after European Central Bank President Mario Draghi promised to "do whatever it takes to preserve the euro."
Markets have also been on fire, with the Spanish IBEX and Italian FTSE MIB up 3.4 and 3.7 percent, respectively.
Have a look at Spanish 10-year yields today, down 38 basis points:
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- Mario Draghi