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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Markets Applaud Draghi's New, Improved Kick the Can Down the Road Strategy | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="cn2kUyW4xW"&gt;&lt;a href="https://www.nakedcapitalism.com/2012/09/markets-applaud-draghis-new-improved-kick-the-can-down-the-road-strategy.html"&gt;Markets Applaud Draghi&#x2019;s New, Improved Kick the Can Down the Road Strategy&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2012/09/markets-applaud-draghis-new-improved-kick-the-can-down-the-road-strategy.html/embed#?secret=cn2kUyW4xW" width="600" height="338" title="&#x201C;Markets Applaud Draghi&#x2019;s New, Improved Kick the Can Down the Road Strategy&#x201D; &#x2014; naked capitalism" data-secret="cn2kUyW4xW" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>On Thursday, ECB chief Mario Draghi announced a bond-buying program that had been largely leaked the day prior, namely that of a new bond buying program, the Outright Monetary Transactions, or OMT. Bond yields in Italy and Spain had already come down on the rumor, and stock markets around the world rallied on the news.  The enthusiasm appears overdone when you look at the sketchy details.</description></oembed>

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