Tradeweb Ten-year sovereign bond yields. Click for big image.

European bonds are not liking this Mario Draghi press conference.

Italy's 10-year bond yield is up to 6.16%, up from 5.96% earlier. The spread between 10-year Italian bonds and German bunds is up 20 basis points.

Spreads are wider mostly across the board - Belgium, Spain, Greece and France are all wider against German bunds. Only Austria and Portugal are narrowing, for some reason.

Update: The Italian 10-year yield is up to 6.22% now and still climbing.

And Draghi just said the ECB has not discussed capping these sovereign bond yields, yet another kick.

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