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Financial News
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Rome sold five-year notes at a euro-era-high 6.47% yield, indicating that investors are still willing to buy Italian debt, but for an increasingly higher premium. A November auction paid 6.29%.The latest dud summit also raises the question of what else Europe's leaders can do. Some even look politically weaker.Domestic opposition is mounting vs. Italian Prime Minister Mario Monti, whose ability to enact austerity measures as an unelected technocrat already is being challenged by conservative lawmakers and labor leaders.German officials also dug deeper in opposing measures that would provide swift, albeit temporary, relief for heavily indebted euro zone governments.Fitch late Wednesday downgraded several big French banks. Markets also are bracing for possible Standard & Poor's down grades to AAA rated France and other euro zone nations.The euro fell further vs. the dollar to a fresh 11-month low. U.S. [Read the full article]
To save time in the future, you may select one of the preferences below. You may update your eIBD preferences at any time by going into My IBD and selecting Update Your eIBD Preferences.Set Web-Based Version as Default Set PDF Version as Default Set Recent Issues as DefaultJobless claims falling to a three-and-a-half year low and strong regional factory surveys offered further evidence Thursday that the U.S. economy is in better shape than the rest of the world's, but a surprise dip in industrial production was a reminder of its vulnerability.The European debt crisis and Congress' stalemate over extending payroll tax cuts and unemployment benefits also loom over the latest positive data.The continuing uncertainty will likely weigh on businesses going into 2012 and temper decisions on how many people to hire and how much equipment to buy. [Read the full article]
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