The Mumble: The end of the beginning?

There can be few doubts that eurozone periphery yields are going to keep on their almost relentless journey downwards since the start of the year after Mario Draghi delighted the finance world with a series of measures that only the most optimistic of market watchers could have predicted. But with more and more investors starting to take profits as pricing recovery catches up with real economics, there may well be at least a slowdown on the cards.