Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

More

  • Stocks rose modestly today (Thursday) on hopes for a new government in Italy — yes, a new government in Italy. They need one because the country is mired in slow growth and too much debt. Sound familiar?

  • Italy has two problems: the cost of funding is too high and there is no growth. What kind of yields on average can Italy afford to pay? And what about the political mess in Italy?

  • European Central Bank

    Euro zone weakness is impacting the global economy: European Union lowers growth forecasts.

  • Berlusconi announcing his resignation has raised even more questions: it's not clear when he is leaving, or what path Italy will be taking.

  • The yield on Italian 10-year debt skyrocketed overnight, going from roughly 6.7 percent yesterday to 7.3 percent. And that is with the ECB buying Italian bonds — in fact there has been active speculation that they are almost the only buyer of those bonds. This has effectively torpedoed the EFSF.

  • Piazza Venezia, Rome, Italy

    Technocratic governments are usually transitional governments run by technical experts. In theory, they are not politicians, which is part of their appeal: they can institute changes because, well, they're not politicians.

  • The EFSF finally got an auction through Monday, but nobody is cheering. To begin with, the initial auction of 5 billion euros that was supposed to happen last week was cancelled. Today's auction of just 3 billion euros clearly indicates lack of demand.

  • We need a credible plan to ring-fence Italy and Spain. If we get that, markets will move up and stocks will start to trade on fundamentals.

  • You're know you're in trouble when the markets go up on speculation you're resigning — that's what Italian Prime Minister Silvio Berlusconi is facing this morning. Berlusconi denied everything on his Facebook page: "The rumors of my resignation are groundless." Some in Berlusconi's party insisted that he had not lost a majority, but last week two deputies from his own party defected to another party. Reuters noted that he appears to 214 votes in the 630-seat lower house — that is not a majority. This may all come to a head tomorrow, when there is a budgetary vote.

  • The euro weakened, and Italian bond yields rose as we got our first real news from the G20 summit. It wasn't good: German Chancellor Angela Merkel said hardly any countries in the G20 had said they would participate in the EFSF.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street