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Global Markets Update: Banks Trade Higher

Wednesday, 21 Dec 2011 | 5:10 AM ET

Futures are up in the U.S. this morning. Europe is up as banks trade higher. The ECB plans to hold its first 3-year liquidity operation today. Italian GDP contracts .2 percent in the 3rd quarter. Italian and Spanish yields fall ahead of ECB 3-year LTRO. The Bank of England's MPC voted 9-0 to hold bank rate unchanged at .5 percent in December. China stocks fall despite pension fund injection reports. And Taiwan equities near a two-week high on government's funding pledge.