Though European stocks are up this week, and the European Central Bank's three-year loan program was deemed a success (it eased funding difficulties for banks), the euro is little changed, hovering around $1.30. Spreads on southern European bonds vs. German bunds are generally wider, and Italian 10-year bonds remain near 7 percent. This is a serious problem, as Italy has a series of bond auctions before the year is out.
U.S. futures are up the last trading day before Christmas and a day after the House agrees to accept Senate terms on the payroll tax cut. In Europe, the markets rally into the holidays. The euro is slightly up against the dollar.
Stung by souring loans and troubled government bond portfolios, many European banks are being forced by regulators to raise money to build up their cash cushions against future losses.
Euro bears are on the prowl. Here's how to sell the single currency and get a bigger bang.
Mario Draghi holds a presser with the Brits. I mentioned yesterday that much of the 489 billion euros ($640 billion) that banks borrowed from the European Central Bank will go to paying off prior, shorter-term loans from the central bank. What's next from Mr. Draghi and the ECB?
Now is a historic buying opportunity, says Jeremy Siegel, The Wharton School finance professor. "Warren Buffett always said you're always investing relative to your other opportunities," he says. "Not in a vacuum."
What does 2012 hold for the world economy? Will it fall into a double dip recession? Will the euro zone take us all down with it? While acknowledging that predicting what will happen next year is a dangerous business, economist and founder of Strategy Economics Matthew Lynn decided to try anyway.
Will cheap loans from the ECB rescue Europe's bank from its mounting debt problems? David Goldman, Macrostrategy.com, weighs in.
Predicting the market outlook for 2012, with Nick Raich, Key Private Bank director of research and Rex Macey, Wilmington Trust chief investment officer.
Former hedge fund manager Warren Mosler is skeptical that the long-term loans from the European Central Bank will do very much for the banking system.
Sharing perspective on whether investors should bet on the United States market for the new year, with Uri Landesman, Platinum Partners president and Hugh Johnson, Hugh Johnson Advisors chairman/CIO.
The European Central Bank's money tender was a hit, but the euro weakened anyway. Here's what to do now.
Investors can blame Europe for choking off stock market gains in 2011. But there’s a growing list of geopolitical flashpoints lurking in 2012—and any one of them could pose a risk to stocks.
The European Central Bank opened up its new borrowing window on Wednesday and 523 banks showed up, hat and dodgy collateral in hand, to borrow $638 billion in three year loans. Even if this doesn’t end the problems of government issuers, it does stem the monetary contraction in European banks.
The European Central Bank three-year loan program at 1 percent, active today, was a success, with banks snapping up 489 billion euros ($641 billion) worth of debt. Stock futures initially rose when the announcement was made at roughly 5:30 a.m. ET, but then quickly reversed, as did the euro. Why the sell-off?
Heavy bank borrowing dents the euro, and the Bank of England is dovish - it's time for your FX Fix.
Famous economist Nouriel Roubini, credited for predicting the financial crisis, made a plea to policymakers to take the tough action needed to address current economic problems, in an article published on the Financial Times' website.
New U.S. home sales data, showing sales were worse than reported for the past four years, and reports on European bank borrowing could produce some of the bigger headlines Wednesday, as markets wind down ahead of the quiet holiday week.
Steven Davies, CEO of Javelin Wealth Management says that recent developments from euro zone have addressed concerns such as support for the banking sector and tightening of liquidity.
U.S. investors could feel reverberations from Europe’s use of a “back-door bazooka,” one “Fast Money” trader said Tuesday.