The stock of Euro Area government bonds trading at negative yields at the end of November, was valued at more than €1.9tn — or approximately one third of the total market — according to the latest Bank for International Settlements (BIS) quarterly report, published Sunday. On Friday in New York following Thursday’s market disappointment with an extension of the monthly purchase of €60bn worth of bonds in the market by six months to March 2017, Mario Draghi, ECB president, made an emphatic statement that the central bank had “the power to act, the determination to act and the commitment to act” to meet its mandate of annual headline inflation of about 2%.