Vassili Serebriakov, currency strategist at BNP Paribas, says the euro has become a funding currency which means it is now negatively correlated with risk.» Read More
Instability in Europe, protests in the streets of US cities and the implosion of a big Wall Street trading firm—it may be a good time for investors to hang on the sidelines until the storms pass.
As the European debt crisis threatens to engulf even France along with Italy and Spain, Bernard Connolly's longstanding proposition that a common currency for the region would end in ruin is getting a wider hearing.
The three-pronged deal reached by European leaders in October aimed at preventing the euro zone debt crisis from spreading further did no more than “trick” markets into thinking a lasting solution had been found and has in fact made matters worse, Nomura’s Bob Janjuah said on Friday.
Occupy London Stock Exchange demonstrators announced on Friday they had “repossessed” a building belonging to Swiss investment bank UBS in Hackney East London.
The austerity measures being rolled out in countries across Europe will have a devastating effect on the living standards of its population, an economist told CNBC Friday.
Groucho Marx once said that money frees you from doing things you dislike. “Since I dislike doing nearly everything, money is handy,” said the Marx Brother.
Earlier this year, Deutsche Bank quietly decided to reduce its exposure to Italian government bonds. But it did not do that by simply selling debt; instead it achieved this partly by buying protection against sovereign default with credit derivatives contracts. The FT reports.
Stock traders Friday will be watching headlines from Europe, and increasingly they will be turning to Washington for any signs of movement by the Congressional "super committee." It is also a day for options expirations, another source of volatility.
As investors’ fears mount that many euro area nations are about to tip into recession, even countries like creditworthy France are finding it much more expensive to borrow money in the open market, the New York Times reports.
Instead of being hurt by the European debt crisis, US banks could actually end up benefitting from the turmoil across the Atlantic, analyst Dick Bove said.
Europe's persistent debt crisis is likely to "tumble along" for an extended period of time but not have much effect on the U.S., St. Louis Federal Reserve President James Bullard told CNBC.
Stock markets have taken such a beating over the past few months that they are now more resilient to any upheavals, apart from a complete breakdown of the euro zone, an analyst told CNBC Thursday.
As this week progresses, Europe is increasingly serving as a counter weight to a growing stream of better U.S. economic news.
Stocks took a late slide after Fitch Ratings put out a report saying U.S. banks could take a big hit if Europe's debt crisis spreads.
“Everyone is too focused on Europe and the possibility (albeit very small in my view) of a Lehman-type of event,” says Joseph Lavorgna, a managing director at Deutsche Bank.
October Consumer Price Index fell 0.1 percent, a little lighter than expected, core CPI up 0.1 percent, in-line with expectations. Headline inflation now up 3.5 percent year over year (2.1 percent ex-food and energy), but the big worry: crude over $100. Headline CPI will not be so tame if that continues.
If the European Central Bank commits to a program to buy bonds from 'danger' states then the euro zone should stay intact, Patrick Armstrong, managing partner at Armstrong Investment Management, told CNBC Wednesday.
The euro crisis rumbles on. Prime ministers are changing as a direct result of the currency’s troubles, although really what this illustrates is that the countries affected were already in a lot of economic trouble anyway; it’s just that their membership of the euro currency union speeded up the change in government.
Confronted with turbulence in the provinces, the eurozone has sent in new governors. In place of the wayward George Papandreou, Greece now has Lucas Papademos, former vice-president of the European Central Bank. Instead of the unruly Silvio Berlusconi, Italy has Mario Monti, former head of competition policy at the European Commission, according to the FT.
Europe is "facing a meltdown in liquidity" affecting every member of the European Union except Germany, BlackRock CEO Lawrence Fink warned CNBC Tuesday.