The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: stsimon who wrote (5640)	5/27/2020 8:42:32 AM
From: elmatador	Read Replies (1) of 13803

Euro surges on reports of €750 billion EU stimulus package Published: May 27, 2020 at 6:31 a.m. ET By Barbara Kollmeyer The euro rose and Italian bond yields rallied Wednesday, on a report the European Union plans to announce a stimulus package worth as much as €750 billion ($823 billion). Citing an official with knowledge of the plan, Bloomberg reported that the package would be split between €500 billion loans and €250 billion grants, funded by borrowing on financial markets. The plan is due to be announced by European Commission President Ursula von der Leyen later, and will be a key part of the EU's effort to lift the region out of a pandemic led recession. The deal could be seen as a compromise given the so-called Frugal Four -- Austria, Sweden, Denmark and the Netherlands -- have been opposed to a recovery fund that isn't based on loans. The yield on the 10-year Italian bond fell 5 basis points to 1.504%. The euro EURUSD, +0.31% jumped 0.4% to $1.1024. Yields fall as bond prices rise.

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