European Central Bank is not yet ready to intervene in Italy
02 June, 2018, 10:50 | Author: Samuel Sharp
ANALYST TAKE: "If a government can be formed that receives the stamp of approval from Mattarella and is therefore seen as not posing a threat to Italy's place in the eurozone, then this will come as a relief to markets in the near-term", said Craig Erlam, senior market analyst at OANDA.
Italy advanced swiftly toward a populist government on a second try Thursday, after the leaders of the anti-establishment 5-Star Movement and the right-wing League announced a compromise deal aimed at overcoming the president's objections.
The Spike in Europe's inflation figures could revive expectations of an eventual rate hike by the European Central Bank if market concerns about politics in Southern Europe diminish further.
Premier-designate Carlo Cottarelli, a former International Monetary Fund official, was expected to submit his list of ministers to President Sergio Mattarella in Rome, two days after an attempt by two populist parties to form a government foundered on the president's rejection of their anti-euro economy minister.
The "call" trade was undertaken on the September bund futures contract Wednesday, and will require enormous haven flows, most likely stemming from Italy abandoning the euro under a populist government, triggering a near-calamitous collapse in the common currency.
U.S. Treasury yields saw their biggest one-day drop in two years and the dollar gained ground against the euro.
Prices for United States government bonds surged as investors shifted money from stocks into lower-risk investments.
Traders are catching their breath after the unprecedented Italian bond slump spilled over into global risk assets.
That has eased fears of fresh Italian elections, a vote some say would effectively be a referendum on Italy's euro membership.
Eurostat, the European Union's statistics agency, said consumer prices were up by an annual rate of 1.9 percent in May, way ahead of April's 1.2 percent. The Kospi in South Korea jumped 0.7 percent to 2,438.96 and shares in Southeast Asia were mixed.
Japan's Nikkei 225 stock index dropped 1.5 percent to 22,018.52. It lost 1.7 percent to $67.04 a barrel on Thursday.
"It comes as no surprise that we are seeing Italian markets suffer heavily, with the FTSE MIB hitting a 10-month low, and the two-year (Italian) bond yield topping two percent for the first time since 2013".
U.S. S&P500 mini futures rose 0.5 percent, but market holidays in the world's two biggest financial centers - London and NY - could make trading slow and illiquid for the day.
The Japanese Yen caused the Topix Index to fall for the seventh straight session, the longest such streak since September 2016. Brent crude, used to price worldwide oils, rose 0.6 percent to $75.80 per barrel in London.
Weinman pour the alcohol out, without issuing any violations and then he terminates the recording", said police in a news release. The officer then says, "You're about to get dropped". "I was partly wrong in a way but I was scared".
Regulators also promised to cut auto import duties from 25 percent to 15 percent on many vehicles effective July 1. Commerce Department told lawmakers it was ending an earlier push to ban Chinese phone giant ZTE.
Something related to " Fallout " is being teased ahead of E3 by the developer of the action role-playing game franchise. A similar teaser has been posted on Bethesda's official Twitter but without further explanation.
On Tuesday afternoon, Valve sent Q13 News a statement saying it has removed the developer responsible for the game from Steam . Parents and student survivors from Marjory Stoneman Douglas High School were disgusted over the video game, CBS Miami reports .
Alice Johnson or the injustice of her case, Kim is calling on President Trump to exercise his clemency power to right this wrong". Johnson to bring "her case to the president's desk" and to lobby the White House to release her.
At the height of the storm, the water had risen above the first floor of some buildings, Howard County emergency officials said. Some people in Ellicott City's historic downtown say they are determined to rebuild after Sunday's devastation.
According to the site (via Google Translate), one insider sent an Assassin's Creed Odyssey keychain in the form of a Spartan head. Three unnamed members close to the project, who have played early versions, say the game will bring dialogue options into play.
The retaliatory tariffs they've promised make no more sense in narrow economic terms than the US tariffs they're objecting to. She added: "We have no intention to escalate this, the door for dialogue is always open.the ball is in (the US's) court".
Chelsea was looking to build the new stadium on its current Stamford Bridge site in west London, and planned to moved in by 2021. But it is understood that Abramovich's decision will have no impact on the running of the football team.
South Korean media earlier reported that Kim Yong-chol's name was on the passenger list for a fight Wednesday from Beijing to NY . Meanwhile, meetings are taking place, he said, in preparation of a summit between Trump and the communist dictator Kim Jong Un .
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He was an undocumented immigrant, and French authorities had the power to grant him citizenship in exceptional cases. He told Mr Macron: "I just didn't have time to think, I ran across the road to go and save him.
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