Those pleading for a shared EU-level fiscal response to the economic damage of the coronavirus outbreak were thrown a bone on Thursday when Ursula von der Leyen, president of the European Commission, promised a €100bn unemployment fund backed by €25bn from EU member states.
SSAs are mobilising their resources to support the fight against Covid-19.
Central banks are turning on the money taps and slashing rates in an effort to combat the economic effects of the coronavirus pandemic.
The Covid-19 pandemic is forcing many of sovereigns to expand their borrowing programmes.
A pair of sovereigns hit the MTN market to raise debt this week, looking for cash to meet increased borrowing requirements as they grapple with the coronavirus pandemic.
The State of North Rhine-Westphalia (Land NRW)’s borrowing programme for the year is on the up and could reach an all-time high in response to the region’s fiscal package to counter the impact of the coronavirus pandemic.
The euro public sector bond market has been fired up, with all tiers of issuers in the market.
Three European supranationals sold bonds this week with a specific focus on supporting its member countries from the coronavirus outbreak as public sector borrowers maintain their vital role in providing emergency financing to tackle the crisis.
The MTN market is picking up as issuers (particularly corporates and SSAs) and investors find opportunities for attractive deals.
The US Federal Reserve’s unprecedented injections of dollar liquidity calmed conditions after a chaotic month in the cross-currency swap market’s short-end, but traders are looking at its effects on the primary bond markets as the next test.
UPDATED 5 April 2am GMT The spread of the coronavirus continues to accelerate in the US, UK and Turkey, which we have added to our graphics.
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Those pleading for a shared EU-level fiscal response to the economic damage of the coronavirus outbreak were thrown a bone on Thursday when Ursula von der Leyen, president of the European Commission, promised a €100bn unemployment fund backed by €25bn from EU member states. But her silence on the prospect of further debt mutualisation spoke volumes to market participants.
SSAs are mobilising their resources to support the fight against Covid-19. The below table details the bonds issued by them in response to the coronavirus pandemic.
The State of North Rhine-Westphalia (Land NRW)’s borrowing programme for the year is on the up and could reach an all-time high in response to the region’s fiscal package to counter the impact of the coronavirus pandemic.
The MTN market is picking up as issuers (particularly corporates and SSAs) and investors find opportunities for attractive deals.
Investment banking revenue in March was lower than normal as the coronavirus pandemic sapped risk appetite — but it was far from a total wipeout.
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