The ECB had already boosted the pace of QE two weeks ago as bond yields started to surge. The central bank actually did something, unlike the Fed. However, it looks like more action will be needed, and the central banks can stop the rising yields by jawboning.
The same problem is happening in the US - yields are rising notably, but the Fed's governors seem not to care. That could have devastating implications for the financial markets if the Fed allows yields to rise further higher.
Investors are starting to price in a rapid rise in inflation, which usually hurts bonds, and yields are expected to rise further.
Elsewhere, the EURUSD pair was up again on Thursday, rising 0.3% and attacking the 1.20 level again. The greenback was down against all major currencies, except the JPY.
US 10--year yields dropped notably today, and the yield was last seen at 1.48%. However, it's too early to say if the rise in the yields is over or it is just a small correction before another leg higher.