The ECB bought 30.2 billion euros of bonds in the first five days of the 'Pepp', the pandemic emergency securities purchase program. This can be read in the Frankfurt statistics. A similar rate of purchases means six billion per day, which if projected on a broader horizon, equals 133 billion per month against the average 83 billion implied in the 750 billion size of the 'Pepp'. This means that the ECB is intervening vigorously, anticipating the program's firepower.
Strong bond purchases in Italy in March, bought 12 billion - The ECB purchased 11.9 billion of Italian government bonds in March through the APP, the securities purchase program that the central bank has just joined the 'Pepp' for coronavirus emergency. The amount - even before the launch of the Pepp - widely exceeds the Italian 'share' based on the distribution of the capital of the ECB, and confirms that Frankfurt last month, with Italy particularly affected by the epidemic which saw a jump in the spread , had directed a substantial part of the program towards the Italian BTPs