The latest remarks by ECB policymaker, Gediminas Simkus:

"The fact is that Italian yields went up more than the others, more than Germany's. Does it worry me? Based on what I've seen, it does not."

Challenge accepted. That's surely the market's thinking and the lack of urgency by the ECB continues to underscore that the pain train has more stops to go. For some context, Italian 2-year yields have jumped up by over 66 bps (!) since last Thursday: