The conflict in Iraq is causing “serious doubts” about the country’s ability to achieve planned oil production and export increases, said the head of Crescent Petroleum, a closely held producer in the country.
Traders who manipulate currency rates or borrowing costs would face criminal charges under plans to be announced by U.K. Chancellor of the Exchequer George Osborne in a crackdown on bankers less than a year before a general election.
Euro volatility surged to the highest in a year and price swings in Treasuries rose to a two-month high as investors speculated on the extent to which the European Central Bank will ease monetary policy today.
European Central Bank President Mario Draghi will be unable to weaken the euro despite expectations he will unveil a package of stimulus measures designed to do just that today, according to Merk Investments LLC.
Spanish government bonds rose, pushing five-year note yields toward a record low, as slower German inflation boosted the case for the European Central Bank step up action to stimulate the economy this week.
Spain’s credit rank was raised by Standard & Poor’s, while Fitch Ratings increased Greece’s grade, as the economic outlooks improve for countries that were at the heart of Europe’s sovereign debt crisis.