European Stability Mechanism

Futures Marginally Lower Ahead of Quiet Day U.S. equity futures traded marginally lower after Monday's gains heading into a quiet day both on the earnings and economics calendars. Should the S&P 500 post gains today, it would mark the 21st consecutive Tuesday of gains. Top News In other news...

U.S. equity futures rose Monday as bond markets remain closed in observance of Veteran's Day. Over the weekend, Greek lawmakers voted and passed the austerity budget, making way for the Troika to release the next tranche of the bailout payments so that Greece can pay off maturing debt. Also, late...

U.S. equity futures rose slightly in early Tuesday trading as reports surfaced indicating that Spain may be closer to submitting to a Troika program in exchange for debt support from the ECB. Recently, it appeared as though Spain was reluctant to ask for a bailout, as the country did not want to...

Late Tuesday, reports surfaced that the Bundesbank was preparing a lawsuit against the European Central Bank claiming that the ECB is violating its mandate in launching the latest round of bond purchases, known as the Outright Monetary Transactions. Unlike the Federal Reserve, which has a dual...

Investors celebrated after Germany's highest court rejected calls to block Europe's permanent rescue fund, the European Stability Mechanism (ESM). Critics had argued that the ESM commits Germany to potentially unlimited support of debt-laden Eurozone states. The ruling allows for the ESM to come...

U.S. equity futures were lifted in early Wednesday trade as the German Constitutional Court ratified the European Stability Mechanism and the Fiscal Pact, paving the way for Draghi's master plan to take hold. Also, Apple (NASDAQ: AAPL) shares rose in pre-market trading as investors await the launch...

U.S. equity futures rose in early Tuesday trading as hopes of further stimulus from the Federal Reserve on Thursday boosted risk appetite. Investors also await the ruling of the German Constitutional Court tomorrow on the legality of the European Stability Mechanism and the Fiscal Pact. Should the...

Following last Thursday's press conference and interest rate decision, Spain may need to submit to a full sovereign bailout to receive any further European support for its finances. The news follows weeks of discussion over the mechanics of a banking sector bailout for Spain, which would add...

PIMCO has published a report on Spain ahead of the much anticipated ECB meeting this week. The analysts at the famed bond management company expect a lackluster response that is more of a band-aid than the proverbial nuclear option. The first point the analysts make is that the firepower to buy...

More details have emerged on the latest action to save the Eurozone and give aid to Spain and Italy. Following comments from the ECB President Mario Draghi Thursday, investors have renewed hope that leaders are Europe are stepping up to do whatever it may take to maintain the euro as it is....

Spanish bond yields retreated from euro-era highs and Italian bond yields retreated from post-LTRO highs as Ewald Nowotny, member of the European Central Bank's (ECB's) governing council, said that the European Stability Mechanism (ESM) could receive a banking license. Such a move would allow the...

Talk of a full-scale sovereign bailout of Spain, along the lines of those received by Greece, Ireland, and Portugal, has increased over the last few days. On Friday, Spain announced a plan to bailout its ailing regional finances, effectively nationalizing regional debts. Also, Spain agreed a new...