Mario Draghi fails to deliver fuel to central bank's stimulus and Irish bond yields leap

The costs of borrowing for Ireland and other eurozone countries leaped yesterday, European stockmarkets sank, and the euro surged against the dollar and sterling.

The events occurred after ECB president Mario Draghi disappointed market expectations by not adding more fuel to the central bank’s big stimulus programme.

“Super Mario was not so super after all,” said Ryan McGrath, a senior bond trader at Cantor Fitzgerald Ireland.