CHICAGO – Europe has been experiencing a period of calm after the storm since European Central Bank President Mario Draghi’s “whatever it takes” speech in July and the ECB’s decision in September to proceed with its “outright monetary transactions” (OMT) program to purchase distressed eurozone members’ government bonds. The interest-rate spreads for Italian and Spanish government bonds have dropped dramatically, corporate-bond issues have resumed, and a sense of normalcy is slowly pervading the continent.
芝加哥—自欧洲央行行长德拉吉7月“竭尽所能”演讲以及欧洲央行9月决定采取“直接货币交易”（OMT）买入受困欧元区成员国政府债券后，欧洲经历着稳定期。意大利和西班牙政府的利差大幅下降，公司债券发行重现江湖，欧洲大陆也开始逐渐弥漫恢复正常的感觉。