Today's Coming Crisis Movie

Friday, July 27, 2012

Europe Day Ahead: Draghi boost to markets may fizzle......And Fizzle it did

July 26 - European risk assets go on a tear after ECB president Mario Draghi says the euro will be saved, but an Italian bill auction tomorrow will test whether the boost to sentiment is any more than a blip.

LONDON | Fri Jul 27, 2012 6:59am EDT
(Reuters) - European equities rose and peripheral bond yields fell on Friday on growing expectations of ECB action to bring down Spanish and Italian borrowing costs, but concerns about possible German opposition to such a move kept risk appetite in check.

Euro zone governments and the European Central Bank are preparing to intervene on financial markets, French daily Le Monde reported, citing unnamed sources. Read More