The European Union's executive arm Wednesday is expected to release a series of proposals that call for more intrusive monitoring of member countries facing financing problems. According to reports, the commission study links proposals on the issuance of euro-zone bonds with recommendations that the commission should have more authority to intervene in national budgets and enforce fiscal discipline. Germany supports more stringent controls of budgets, but has been outspoken against an European bonds.
In the U.S., investors are watching weekly jobless claims, durable goods, and personal income and spending at 8:30 a.m. EST. Consumer sentiment is released at 9:55 a.m. The Treasury auctions $29 billion in 7-year notes.
