European interest rates.

Mr Trichet during his latest press conference and other ECB members since then basically said rates won’t be raised soon but some liquidity measures will be gradually taken off as too much liquidity (which benefits quasi only the big banks) ,might pose various threats. Since then the 2y european yield has made new lows almost every day ignoring any other market moves. Hence a sharp steepening of the yiel curve. How should we read that move ?