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Central Banks European Central Bank

  • Mario Draghi warned of the costs of a euro zone break-up, breaching a taboo for a president of the European Central Bank, in an interview with the Financial Times.

  • France Finance minister Francois Baroin (R) poses next to US Finance minister Timothy Geithner (L) eyed by French central bank governor Christian Noyer on October 14, 2011 at the 'Cite de L'Architecture' in Paris, prior to a working dinner, on the first day of the G20 meeting of Finance Ministers and Central Bank Governors.

    The governor of France’s central bank has said Britain is more deserving of losing its top-notch credit rating than France as Paris braces itself for a potential downgrade of the country’s triple A status.

  • Money Match Up

    Will S&P downgrade Europe? The currency trade behind a potential downgrade, with CNBC's Melissa Lee and the Money in Motion traders. And a bullion breakdown. Does the gold rout this week prove the dollar is a more valuable property?

  • Moody's gave Belgium a two-notch downgrade, from Aa1 to Aa3, the equivalent of an S&P/Fitch AA- rating.

  • Bill Gross of PIMCO participates in a conference on the future of housing finance at the Treasury Department in Washington, DC.

    The Federal Reserve will keep interest rates low for "three, four, or five years," which is why Pimco is jumping into mortgage-backed securities in a big way, Bill Gross told CNBC Europe Friday.

  • Yields on short-term peripheral sovereign bonds are plunging, despite the fact that EU leaders appeared to make little progress at their highly-anticipated summit last week.

  • European Central Bank

    Surfing the yield curve: Someone is buying an awful lot of European debt recently, particularly at the short end. Huh? Isn't European debt toxic? Well, sort of. But the ECB will have a new long term lending facility (up to 3 years) that will soon come into effect. This was all part of the announcement last week.

  • Global Markets Update: Euro Comes Off 11-Month Low

    U.S. futures are up following yesterday's gains. European shares rise, led by mining stocks. Fitch downgrades Goldman Sachs, Deutsche Bank, Credit Suisse, BNP Paribas and Barclays. The euro is off its 11-month low. Italian PM Monti faces a confidence vote on a 33 billion euro austerity package. And gold rebounds while crude stays steady. In Asia, better-than-expected U.S. economic data lifts the markets in a mixed session.

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    An extended bank holiday in the European Union to halt a steep market fall, a third party candidate winning the race for the White House, and 50 European banks being nationalized are just a few of Saxo Bank's "outrageous predictions" for 2012.

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    With one final shopping week to go, investors will be keeping their eye on the consumer to see how holiday sales shake out and what it might mean for the economy.

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    The news that European banks will now be able to borrow euros for three-year terms by posting a broad array of collateral is the best sign so far the European Central Bank is recognizing that the continent is experiencing an extreme monetary contraction.

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    Although most of the other troubled European countries may not have the same degree of tax evasion and nepotism that Greece has, each of these countries will be forced to implement painful reforms that are likely to endanger the jobs of many European politicians.

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    The euro has been trading in tandem with key commodity currencies, but that could change - and create trading opportunities.

  • Global Markets Update: LaGarde Calls for Action by Countries Outside EU

    European markets have a mostly green day after upbeat U.S. economic data -- insurance stocks are among the day's best performers. Credit Agricole falls after Fitch downgrades its long-term rating. Italy calls for a Friday confidence vote in effort to speed up austerity passage. And the IMF's Christine LaGarde says the world economic outlook is "quite gloomy" and requires action by countries outside the EU. Henry McVey, KKR head of global macro and asset allocation, discusses his investment strategy for a tu

  • S&P futures popped a few points as initial jobless claims came in at 366,000, below expectations and the lowest level since May 2008. The regional Empire Manufacturing Index was also stronger than expected for December.

  • Statue and Italian Flag in front of Vittorio Emanuele monument.

    Italy's government has called for a vote of confidence on an austerity package aimed at persuading markets that Italy can get its finances under control to emerge from the spiraling debt crisis.

  • Global Markets Update: Euro at 11-Month Low vs. Dollar

    European markets rebound, although euro zone concerns remain. Manufacturing data continues to contract. Meanwhile, Spain finds strong demand for bonds even as yields on the 5-year fall. And the euro hits an 11-month low against the dollar.

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    The euro zone should be reduced from its current size with those countries currently experiencing difficulties seeking external solutions, Hans Werner-Sinn, president of the IFO Institute, told CNBC Thursday.

  • Tired Santa Claus

    The negativity that’s driving the euro lower could keep pressure on stocks and commodities prices Thursday.

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    Think the euro's had enough of a fall? Think again, this strategist says.