With eurozone core inflation falling to 0.8% year-on-year in May and 5-year forward inflation expectations falling to under 1.2% in recent weeks, indications from the ECB that all options are on the table to return inflation to below but close to 2% can hardly be a surprise. Adding to a steady flow of sourced and unsourced press commentary by ECB policymakers since this weekend, outgoing ECB President Draghi has effectively promised to do whatever it takes - all over again - to bring eurozone inflation back to target. This is unambiguously positive for eurozone bonds,