Euro Rallies Amid Europe’s Pandemic Response
- EU members to collectively raise 750 billion euros from bonds issued.
- Ground-breaking move to stimulate sagging economy rallies euro.
- Debt issuance binds 27 EU members in a coordinated fiscal initiative.
- Member-nations hit the hardest by pandemic will receive grants.
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Implications of US Borrowing $3 Trillion in H1 2020
- US Treasury issued more than $3 trillion in new debt securities in H1 2020.
- Private local, foreign investors were top buyers, Fed took 46% of issuance.
- Without Fed involvement, US Treasury yields could be much higher.
- Higher gold, weaker dollar signaling rising inflation expectations?
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