The ECB made a giant blunder yesterday by only buying Portugese and Irish bonds. Ireland and Portugal already have rescue funds in place for them, which they are borrowing from. The money was wasted for what is largely a symbolic gesture. Additionally, it caused a rout in Italian and Spanish bonds that has likely scared many investors into selling. It will now take a lot more money than it would have yesterday to stabilize those markets.
It looks like the ECB may have backpedaled and decided to buy Italian bonds today. Italian bonds are actually higher on the day after a nasty open, as seen in the chart below of the intra-day 10 year Italian bond yield from Bloomberg (lower yields equal higher bond prices)