|SARAH DiLORENZO, AP Business Writer|
Earlier in the day,
Later Friday, for instance, a decision is expected on whether the bond-swap deal will trigger insurance payments on those bonds. Most analysts expect the insurance, known as credit default swaps, to be paid out.
The ability of banks that invested heavily in
"The focus then will move on to who the winners and losers are from the CDS and of course, whether 'player X' has written enough CDS protection to take a major loss," said
Amid the uncertainly, the euro fell 1.1 percent
But the news that the U.S. economy added 227,000 jobs in February gave stocks a respite from
After the news, markets moved up.
The CAC-40 in
Investors remain cautious about the economic outlook, with some worried that surging oil prices could dampen a recovery. Benchmark oil for April delivery rose
Earlier, Asian markets were reassured by news that
That helped to offset any caution from the
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