italy

Investors celebrated after Germany's highest court rejected calls to block Europe's permanent rescue fund, the European Stability Mechanism (ESM). Critics had argued that the ESM commits Germany to potentially unlimited support of debt-laden Eurozone states. The ruling allows for the ESM to come...

The European Central Bank is expected to launch a new round of sterilized bond purchases aimed at capping yields on peripheral bonds tomorrow. However, there have been few details announced and there remains much for markets to be disappointed despite Wednesday's rumors. Markets anticipate some...

U.S. equity futures rose for a fourth consecutive day Tuesday on continued hopes that new discussions between European leaders would culminate in a grand solution to Europe's debt crisis. Reports indicated that Germany, mainly the conservative Bundesbankers, are now supporting European Central Bank...

Following last Thursday's press conference and interest rate decision, Spain may need to submit to a full sovereign bailout to receive any further European support for its finances. The news follows weeks of discussion over the mechanics of a banking sector bailout for Spain, which would add...

U.S. equity futures rallied early Monday on hopes of further central bank stimulus despite a failure to deliver in the previous week. Aside from reticence from conservative Bundesbankers, markets still anticipate the European Central Bank to purchase bonds once Spain and Italy submit to full...

The movements in the EUR/USD around ECB President's Mario Draghi comments were nothing short of remarkable. The currency pair moved in what can only be described as ridiculous volatility. The EUR/USD spiked above the 1.24 level, reaching a high of 1.2406, before retreating and making new lows below...

Italy had its first auction of new debt Monday since ECB President Mario Draghi hinted that the bank is set to support sovereign bond markets. Yields, even though modestly lower from the previous auction, fell markedly from post-LTRO highs early last week seen in the secondary market. Italy sold 5...

In a move that really surprised no one, Italy received another downgrade from ratings agency Egan-Jones, moving the country's credit further into junk territory. Italy's debt, previously rated at B+, is now rated CCC+ by the company. Egan-Jones commented that it sees Italy with a 22 percent chance...

Spanish bond yields retreated from euro-era highs and Italian bond yields retreated from post-LTRO highs as Ewald Nowotny, member of the European Central Bank's (ECB's) governing council, said that the European Stability Mechanism (ESM) could receive a banking license. Such a move would allow the...

U.S. equity futures were flat early Wednesday after Apple (NASDAQ: AAPL) missed analyst estimates for only the second time in 39 quarters. Apple's stock fell 5 percent in overnight trading and dragged NASDAQ futures, of which it has a larger-than 10 percent weight, lower in tandem. However, Dow and...

Italian 10-year bond yields rose Tuesday to the highest level since the European Central Bank (ECB) launched the Longer-Term Refinancing Operations (LTRO's) earlier in 2012. The move higher in yields can largely be attributed to fears that Spain may need a full sovereign bailout and Italy may be in...

U.S. equity futures were flat Tuesday after the wild ride seen in financial markets Monday. U.S. stocks opened sharply lower on weak earnings and Spanish fears but rallied to narrow losses after the European close. It was the eighth consecutive Monday that U.S. stocks traded lower. Fears in Spain...

Financial markets were in risk-off mode Monday morning with Spanish fears dominating the market. The seemingly endless stream of bad news out of Spain on Friday has spooked markets and the chances that Spain may need a full sovereign bailout increase. Spanish 10-year yields blew out for the second...