Do You Want to Know a Secret?

Speculation Builds on How ECB Will Tackle Debt Crisis - The Euro Crisis - WSJ

Speculation on how the European Central Bank plans to tackle the debt crisis roiling the common currency region continues to build.
In a report published Thursday, German newspaper Die Welt has said the European Central Bank is considering a “secret” yield cap for its possible interventions in the bond market.
This is a variation of the yield-cap target mentioned earlier this week, under which the ECB would not allow Italian and Spanish bond yields to climb beyond a certain level. The idea is that disclosing the yield cap would boost transparency, the lack of which hampered the success of the first instalment of the central bank’s bond market intervention plan — the Securities Markets Program.