North American wrap: Deal disbelief
Greece austerity "general" deal reached
ECB holds refi rate at 1.00%
Draghi: economy stabilizing at a low level
BOE holds, increases QE by ₤50B
Rehn Greek Parliament must pass austerity before bailout dispersed
Greece deputy minister resigns on austerity
IMF looking for assurances Greek plan will continue after April elections
PSI deal virtually done
Italy GDP -1.2% to -1.5% in 2012
US initial jobless claims 358K vs 370K exp
Dec wholesale inventories +1.0% vs +0.4% exp
US sells bonds at highest yield since Sept
US reaches $25B foreclosure settlement with US banks
S&P 500 gains 0.15% to 1352
The euro rose to a two-month high of 1.3322 but the 100-day moving average at 1.3334 helped cap gains. The market is also reflecting the EU position on the austerity deal (ie. they will believe it when it passes in Parliament). There are already murmurs about dissent from Greece and Germany.
