Good news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied and there was a nice pop on Wall Street as well.
Bad news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied MOREPaul R. La Monica - Jun 29, 2012 11:28 AM ET
Fear about Europe's raging debt crisis and a slowing global economy kept investors fleeing for the exits.
U.S. stock mutual funds lost $1.8 billion during the week ended June 13, according to the Investment Company Institute. (Last week, investors only pulled out $620 million.) Tallying it up, that means investors have withdrawn money from the stock market for 17 of the past 18 weeks.
For the month of May, investors yanked out MORECatherine Tymkiw - Jun 28, 2012 4:46 PM ET
The bad news just keeps piling up for Europe.
An index of purchasing managers, formally known as the Markit flash eurozone PMI, came in at 46 in June, still showing contraction but unchanged from May. The index has been contracting since September, and it remains at the lowest level since 2009. The second quarter has also seen "the steepest downturn" in three years.
The only glimmer of hope is that the PMI MORECatherine Tymkiw - Jun 21, 2012 10:29 AM ET
Super Mario to the rescue! European Central Bank president Mario Draghi said Friday that Europe's central banks stand ready to "continue to supply liquidity to solvent banks where needed."
Speaking at an ECB conference in Frankfurt, Draghi said strengthening European economic growth is a critical issue that needs to be addressed sooner rather than later.
"There is a long-standing agenda on growth" he said, adding that "it is time to implement it MORECatherine Tymkiw - Jun 15, 2012 8:23 AM ET
Italy faced its first in a series of debt auctions Wednesday and it wasn't pretty.
The government sold 6.5 billion euros of 1-year notes at an average yield of 3.97%. That's sharply higher than the 2.34% yield at last month's auction and may signal further trouble ahead.
Italy's borrowing costs have been creeping higher as investors worry the country may be headed closer to bailout territory. The yield on Italy's 10-year MORECatherine Tymkiw - Jun 13, 2012 9:47 AM ET
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