BOSTON (TheStreet) -- Italy's lower borrowing costs lead your quick fix of company, market, economic and investing news for Wednesday, Dec. 28.

Wednesday's 5 Biggest Stories

Italy auctioned some short-term bills

, and its borrowing costs fell. They're penning a "thank you" note to the ECB right now.

BBC

Speaking of the ECB, banks deposited almost

$600 billion overnight

into the central bank's deposit facility, a sign the banks aren't putting the massive liquidity to work.

FT

Further east, Japan sees

industrial production

drop 2.6% in November.

WSJ

Not that we need any more geopolitical fears, but there has been more saber-rattling by Iran over the

Strait of Hormuz

.

CNN

Morgan Stanley

(MS) - Get Report

, which already announced it would eliminate 1,600 job cuts, says 580 employees have been made redundant.

Telegraph

Quote of the Day

"The unilateral Japanese interventions were undertaken when exchange market conditions appeared to be operating in an orderly manner and volatility in the yen-dollar exchange rate was lower than, for example, the euro-dollar market. In contrast to the post-earthquake joint G7 intervention in March, the United States did not support these interventions," the U.S. Treasury wrote in a semi-annual report on Japan's move to add Chinese renminbi-denominated assets to its reserves.

Reuters

Company News

Why the

Sears Holdings

(SHLD)

fantasy is over for Eddie Lampert.

Bronte Capital

Wendy's

(WEN) - Get Report

has bulked up its menu with a fois gras burger for its return to Japan after a two-year absence.

Bloomberg

Cavium

(CAVM)

falls hard after the network-processor maker cut its outlook for the fourth quarter.

Barron's

Markets

Sign of a top? 2012 is shaping up to be the

biggest year for Internet IPOs

since 1999.

Bloomberg

Prepare for record-shattering earnings on the

S&P 500

in 2012, says an ING market strategist.

Investment News

Investment Strategy

Putting Steven Cohen's

hedge fund performance

this year in perspective.

Reuters

The most successful

new ETFs of 2011

.

ETFdb

The

Dogs of the Dow

investment strategy paid off huge in 2011. What do you look at for 2012?

Bespoke Investment

Odds and Ends

What do we make of Washington D.C. becoming the

lone housing market

with a pricing uptrend this year?

Reformed Broker

It's Wednesday. Four more days left in the year. We're coming down the mountain today, courtesy of

Jane's Addiction

.

YouTube

-- Written by Robert Holmes in Boston

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