Austrian bank Erste announced on Friday that it had drastically reduced its credit default swaps (CDS) portfolio and that it would close it by the end of the year, after valuing it based on what it would be worth in the market - known as marking to market - earlier in the month.
Another European plan to fix its sovereign debt problem has initiated another sharp market rally. But will the enthusiasm over the latest rescue effort last longer than the optimism that greeted past plans, only to slowly fade away? The New York Times reports
The market whip, with Jon Najarian, OptionMonster.com; Jim Iurio, TJM Institutional Services; and Ken Heebner, Capital Growth Management. And Charles Dallara, former asst. Treasury Secretary who negotiated the Greek debt agreement, discusses what happened behind closed doors leading up to the deal.
The euro is having a very big day in the wake of the European Union summit. Here's how to trade it now the outlines of a debt deal are out.
The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.
U.S. stock markets may be surging on news of a deal on Europe's financial situation, but Art Cashin thinks there's more to come. "Everything looks great" right now, said the UBS Financial Services director of floor operations, but "I don’t think the game’s quite over yet."
“Buy Low. Sell High. And don’t get them confused!” There are few more important rules for investors. I’m struck once again by the faithful Pavlovian response of those who were hating stocks as they dipped briefly into Bear Market territory and now, after a 14% gain (in the S&P 500), are waving their bidding paddles and fanning their short-term gains.
CNBC's David Faber, Jim Cramer and Carl Quintanilla break down today's market moving headlines, including Europe's 50 percent haircuts on Greek debt, a leveraged EFSF, and what today's GDP report reveals about the economy.
European leaders finally agreed on the outlines of a rescue, and risk is back on big time — it's time for your FX Fix.
A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said on Thursday.
Olivier Desbarres, director and head of FX Strategy, Asia-Pacific ex Japan, Barclays Capital, discusses whether the announcement coming out of the European summit will be sufficient to strengthen the euro.
"I'm a great optimist in life," the man known as Dr. Doom told CNBC Wednesday. "Otherwise I would commit suicide in view of the kind of governments we have nowadays."
As markets have been rebounding on euro hopes, the eurozone leaders have been debating a plan that should satisfy the financial markets. The hope is futile. A comprehensive plan does not exist. The eurozone crisis will get worse before it will get better.
Negotiators remain divided, however, on the issue of what will happen to the remaining 50 percent of the current outstanding 205 billion euros ($284.9 billion) of debt load.
The yen's on a roll, and it's Europe Day again - time for your daily FX Fix.
With France's economic growth outlook fast deteriorating, President Nicolas Sarkozy increasingly has little choice but to launch a new round of belt-tightening six months from a presidential election.
Congratulations and commiserations: next week, you will take up one of the most important central banking jobs in the world; but you will also bear a frightful responsibility. The FT reports.
Premium hotels are doing surprisingly well thanks to visitors from the US and BRIC nations. CNBC takes a look at fourteen of the grandest hotels in Europe.
Eurozone leaders were struggling on Tuesday to reach agreement on a much-anticipated deal to reverse their spiralling debt crisis amid mounting signals a definitive agreement would not be reached at a key summit on Wednesday night. The FT reports.
Fredric Tomczyk, TD Ameritrade CEO & president, explains how volatility in Q3 helped TD Ameritrade's business. He also shares his sense of investor sentiment right now given the constant headlines out of Europe.