ECB announces emergency meeting to discuss bond market rout

The European Central Bank is considering emergency measures to rein in spiraling borrowing costs in the economic bloc. Its Governing Council is holding an unscheduled meeting today as a measure known as Europe's fear gauge hit its highest level since early 2020. The difference between Italian and German bond yields, a measure also widely watched among investors, has widened the most since early 2020, with the yield on the 10-year Italian government bond crossing the 4% mark. Craig Erlam, who is OANDA senior market analyst joined us from London. #ECB #BondYields #InterestRates