Euro Surges Again on Recovery Fund Progress, Yen Down on Poor Exports
Euro’s rally continues today as, despite some jitters, it appears that EU would agree on a compromised deal of recovery fund. It’s reported that after marathon negotiations, the Netherlands, Austria, Denmark and Sweden are satisfied with EUR 390B fund being made...
No Final Answers Yet On The EU Recovery And Resilience Facility
Market movers today The EU Council summit ended yesterday without any final answers on the EU’s response to the current economic crisis (as expected). However, this morning, Bloomberg reported that the frugal countries stand ready to accept EUR390bn being made...
CEO of major Asian bank says ‘a big, big challenge’ is looming for the global economy
The economic aftermath of the coronavirus pandemic is likely to worsen when authorities start rolling back relief measures — and banks could experience “far more damage” to their balance sheets, said Piyush Gupta, group chief executive of Singaporean bank DBS....
Euro’s Rally to be Tested by Outcome of EU Summit on Recovery Fund
Euro ended last week as the strongest one, as pushed up by hope of an agreement over EU’s post-pandemic recovery fund. The strength was particularly apparent against Swiss Franc and Sterling. Yet, up till the time of writing, there seems...
Corporate finance: Months late, Germany’s bailout fund gets to work
Economy minister Peter Altmaier announces approval from the European Commission’s state aid authority for the €600 billion WSF After months of delay, Berlin is moving ahead with a plan to recapitalize corporates with state money, in what one government says...
Jamie Dimon’s warning for the U.S. economy — nobody knows what comes next
Attempting to forecast the path of the American economy right now is like peering into a dark well — nobody knows how deep the hole goes. Even Jamie Dimon, CEO of JPMorgan Chase and veteran prognosticator of all things financial,...
These business owners got a PPP loan. It may not be enough
Robert Miller, a Pittsburgh area restaurateur, has watched with sadness as some of his favorite local eateries closed for good in recent weeks. Union Standard, Pizza Taglio, Spoon — just a handful of the businesses lost in the age of the...
Weekly Economic and Financial Commentary: A Glimpse of the Rebound that Might Have Been
U.S. Review A Glimpse of the Rebound that Might Have Been Two countervailing themes competed for attention this week in financial markets. The first is that for the most part, economic data continue to surprise to the upside and do...
The Weekly Bottom Line: BoC and Feds Reaffirm Continued Support
U.S. Highlights Despite the continued surge in new infections in the U.S., financial markets were on the upswing this week on positive economic data and encouraging news on a vaccine. Internationally, the Chinese economy resumed growing in the second quarter....
Forward Guidance: Household Spending Recovery Picking Up Speed, For Now…
The bounce-back in household spending to-date continues to look significantly stronger than expected. Canadian home resales jumped 15% above year ago levels in June — a far cry from the 57% year-over-year plunge in April when a full month of...
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