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Italy Govt Bonds 10 Year Gross Yield overnight

6.450%

Down over 1% since the spike above 7% two nights ago.

The initial strength on Wall Street was partly due to news that the Italian Senate has approved a package of austerity measures and economic reforms demanded by European leaders, with the vote paving the way for Prime Minister Silvio Berlusconi's resignation.
The outcome of the vote has contributed to a drop in Italian bond yields, which are moving lower for the second consecutive day, easing concerns about Italy's debt.
Peter Boockvar, equity strategist at Miller Tabak, said, "Italy is one step closer to an interim government after the Italian Senate passed the current budget package, which will be followed tomorrow with a vote by their lower house."
"Once a new government is in place, markets will focus intently on whether Italy quickly and forcefully implements the budget deal," he added.

The price of crude oil moved above $98 Friday morning as risk appetite improved after Italy and Greece said they are preparing to form new government. Crude for December gained $0.50 to $98.28 a barrel.

The price of gold was moving higher after witnessing sell-off in the previous session. Yesterday, gold extended losses for a second session, shedding nearly 2 percent as risk appetite improved. gold for December was adding $12.30 to $1,771.90 an ounce.

Supplied by advfn.com