US Reuters/Michigan Consumer Sentiment Index rises to 77.6 in Feb from 73.8 in Jan

The Italian election result appears to have produced no clear winner across both houses of parliament, and Monti’s centrist coalition, most supportive of the current austerity path, polled a distant fourth, making it largely irrelevant. According to the Greg Gibbs, an FX Trading Specialist at RBS, “It thus may be ungovernable and creates a sudden descent back into uncertainty over the future of the economic policy direction in Italy and the willingness of the ECB to use its OMT to support the Italian bond market.”