Unsecured euro money market borrowing hits high

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By Frank Jackman
28 May 2020

Unsecured euro money market borrowing this week reached its highest level since the European Central Bank began publishing statistics in November 2017, driven by issuers scrambling for funds to combat the coronavirus pandemic, according to one analyst.

“This is a result of an increased cash need for many issuers,” said one rates analyst. “For me, this increase is a sign of potential weakness in the economy: banks and corporates have ramped up borrowing and are looking to get funds at a very short notice.”

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