The dollar gained on Friday as concerns about continuing low oil prices added to deflation fears in the euro zone and Japan.
Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria, while it downgraded the ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta.
Euro Zone debt crisis will get a lot worse, weak banks will fail, the EU will act at the last minute, US debt will dominate.
Today, six central banks acted to reduce funding tensions in the global financial markets. The EUR rallied 200 points, S&P is up 35 and US 10yr yields are up 10bps at 2.07%
Italy's government debt is unsustainable and needs an orderly restructuring to avoid a disorderly default, economist Nouriel Roubini wrote on Tuesday.
The European Central Bank must act sooner rather than later in order to avoid a grave outcome for the euro area and possibly the euro itself, according to Credit Suisse Economist Yiagos Alexopoulos.
UniCredit will ask the European Central Bank to increase access to ECB borrowing for Italian banks at a meeting on Wednesday, a source close to the bank said, highlighting funding concerns among the country's lenders.
The changing of the guard at the top of Italy and Greece provided a small boost to markets Monday morning, but the new leaders have a long way to go to restore market confidence, investors warned Monday.
European officials are working on a detailed plan aimed at shoring up European bank stability, according to an official who spoke with CNBC’s Steve Liesman.
CNBC's Rick Santelli weighs in on this weeks jobless claims and Steve Liesman shares the U.S. trade deficit numbers with exports higher and imports lower.
Stocks eked out a gain after a rough morning as banks got a boost from market chatter that the government may suspend a controversial accounting rule blamed for much of the contagion in the financial industry.
Futures are down nearly 10 points, not surprising given AIG, a strange but generally disappointing retail sales report, and jobless claims higher than expected.
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