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Italy’s deputy prime minister, Luigi Di Maio, on Monday accused European Union officials of deliberately upsetting financial markets with negative comments about the country’s budget plans. Trading volume of Italian government bonds on Friday had reached its highest level for a single day since 2011 on Tradeweb’s European Government Bonds platform, the company said. Some 5.5 billion euros ($6.4 billion) were traded on the day, it said. The euro on Monday was hit by worries about a rise in Italy's fiscal deficit, dropping below $1.16 EUR=.

Also casting a shadow on markets were two surveys on Sunday that showed growth in Chinese manufacturing sputtered in September as domestic and export demand softened, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.22 percent lower, Following swarovski black diamond crystal cufflinks the trade deal, yields on U.S, government bond yields rose as traders sold the safe-haven debt for riskier assets, “There is a pretty significant risk-on tone following the new NAFTA agreement,” said Mike Lorizio, senior fixed income trader at Manulife Asset Management in New York..

Gold also dipped on the increased appetite for riskier assets. Spot gold XAU= dropped 0.3 percent to $1,188.71 an ounce. U.S. gold futures GCcv1 fell 0.31 percent to $1,192.50 an ounce. Oil futures jumped more than $2 a barrel, rising to levels not seen since November 2014, as U.S. sanctions on Iran loomed and the North American trade deal was seen as fostering growth. Brent futures LCOc1 settled at $84.98 a barrel, up $2.25, or 2.7 percent. In post-settlement trade, the contract continued to strengthen, rising to $85.45 a barrel, the first trade above $85 since November 2014. U.S. light crude futures CLc1 settled up $2.05 a barrel at $75.30, the highest level since November 2014.

(Reuters) - Tesla Inc’s (TSLA.O) settlement with U.S, regulators will help soothe investors calling for more oversight of Chief Executive Elon Musk, experts said, even as it gives ammunition to short-sellers pursing separate cases and to a probe by the Justice Department, Musk and Tesla will pay $20 million each, bring in two independent directors and have the billionaire step down as board chairman to settle U.S, Securities and Exchange Commission charges that Musk swarovski black diamond crystal cufflinks misled investors by tweeting he had financing for a go-private deal..

That settlement must still be approved by a court, and does not end the Justice Department probe disclosed by Tesla into Musk’s tweets or lawsuits by short-sellers and other investors alleging losses and securities law violations. “The real worry for the company is not the SEC but private actions that follow a settlement like this,” said Charles M. Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware. “By paying that size fine, it bolsters investors’” claims over stock market losses, he said.

Neither Musk nor Tesla admitted or denied the SEC’s findings as part of the settlement, Neither responded to requests for comment, Musk settled with the SEC after advisers persuaded him the terms were favorable and a lengthy court fight would not be in the best interest of the company, a person familiar with the deal said, Musk had wanted to personally pay the fine for money-losing Tesla but the SEC rejected that proposal, the person said, Tesla shares plunged around swarovski black diamond crystal cufflinks 14 percent on Friday, the day after the SEC charged Musk with misleading investors, and are down 30 percent since his Aug, 7 tweet saying he was considering taking the company private at $420 a share..

Investor claims could result in substantial settlements in cash or equity, Elson said. An equity settlement could end up diluting Musk’s roughly 19 percent stake in Tesla, further reducing his influence on the board. Still, Tesla shares could stabilize on Monday on investor relief that the penalties were not higher and that the public face of Tesla will remain in the CEO role under added oversight, analysts said. Tesla is expected to release third-quarter production this week, and investors are watching to see if it hit targets for the Model 3, a high-volume car. Whether Tesla made a profit likely will not be known until it reports financial results for the quarter.

The settlement disclosed by the SEC on Saturday “is a positive outcome for Elon Musk, Tesla and ultimately shareholders,” wrote RBC Capital Markets analyst Joseph Spak, who added he expects Tesla shares to recoup some of their losses from last week, An expanded board and new chairman offers hope “a true check on Elon will emerge and there will be greater accountability” over Musk’s statements and business targets, Spak added, Tesla and Musk ended up accepting harsher penalties than the SEC swarovski black diamond crystal cufflinks originally proposed to settle the claims, according to the person familiar with the deal, The SEC initially was ready to accept a fine of a few million dollars and Musk’s removal as chairman for two years, but raised its demands after Musk balked at that offer, the person said..

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