After Months Of Talks, Italy Has A New Coalition Government

Italian bond yields can go

Italian bond yields can go"quite a big higher" says Nutmeg CIO Shaun Port

It added: "Italy does not want to quit the euro". After being appointed by Mattarella last Wednesday following his nomination by the League and Five Star, Conte was forced to abandon his attempt to form a government the next day after the president rejected his choice of finance minister.

Japan's biggest private life insurance firm, Nippon Life, which holds some 4.8 trillion yen ($44 billion) worth of euro zone bonds, said it had no plans for now to buy or sell its Italian debt holdings.

Worries about fresh Italian elections had battered the euro earlier this weak with fears such a vote would effectively be a referendum on Italy's euro membership.

Its ambitious economic proposals - which include a monthly basic income for Italy's poorest and a two tier "flat" tax - have anxious Brussels and financial markets given Italy's massive 2.3 trillion euro ($2.7 trillion) debt. After it was over, reporters spotted Salvini walking out of the palace and asked him how long he thought the new government would last.

The U.S. Embassy in Rome on Friday warned U.S. travelers to beware of three separate demonstrations set to take place Saturday, saying they could become "unruly or violent".

The Japanese yen dipped 0.1 percent to 108.90 per dollar.

The British pound advanced 0.3 percent to $1.3288.

Elsewhere shares in Deutsche Bank recovered some of the previous session's heavy losses, climbing 2.8 percent higher following Thursday's drop of more than 7 percent in the after a report that the U.S. Federal Reserve past year designated the bank's U.S. operations to be in "troubled condition".

On the economic space, Euro Zone inflation surprised economists and analysts on Thursday, after Consumer price data (CPI) released on Thursday showed inflation jumped to 1.9 percent, well above the forecast of 1.6 percent. EUR/USD slipped to the low 1.15 area. The indexes were down 0.85 percent and 0.62 percent respectively.

In a last-minute shuffle of cabinet posts aimed at appeasing President Sergio Mattarella, Conte remained but an 81-year-old euro-skeptic economist, Paolo Savona, was shunted from the economy minister's post to a European affairs position.

The yield on the benchmark 10-year Treasury note was lower at around 2.826 percent, while the yield on the 30-year Treasury bond ticked down to 2.991 percent.

In Spain, center-right Prime Minister Mariano Rajoy faces a no-confidence vote on Friday, which will follow a debate about whether socialist leader Pedro Sánchez should replace him.

ENERGY: U.S. crude oil fell 27 cents to $66.46 per barrel in electronic trading on the New York Mercantile Exchange.

German unemployment dropped to a super-low 3.4 percent in April, with the Netherlands at 3.9 percent. Brent crude, used to price global oils, shed 38 cents to $75.11 a barrel in London.

The pan-European FTSEurofirst 300 index rose 0.23 percent. While that's a four-year high, it's still well below the 7 per cent rate that precipitated Italy's crisis in 2011. The Kospi and the Shanghai Composite were both down around 0.58 percent just after noon in Hong Kong while the Nikkei 225 and Hong Kong's Hang Seng Index were met with steeper losses.

Salman Khan's brother allegedly involved in IPL betting scam
Teens are using Facebook less and less