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ECB Is Crafting Crisis Tool to Deploy If Bond Yields Jump

  • Staff are working on backstop for market stress, officials say
  • It isn’t clear if program will be unveiled or kept in reserve
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ECB Working on Crisis Tool If There's a Bond Blowout
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The European Central Bank is working on a crisis tool to deploy in the event of a blowout in the bond yields of weaker euro-zone economies, according to officials familiar with the plans.