Financial Markets • Daily Report 08 abril 2020
Market sentiment continued to recover amid investor hopes that the coronavirus outbreak might be decelerating.
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- Market sentiment continued to recover amid investor hopes that the coronavirus outbreak might be decelerating. European and EM stocks rose across the board and sovereign yields edged higher on the back of expectations of larger bond issuance. Yet, U.S. stocks fell in a volatile session after having surged above 3% during the day.
- The ECB announced temporary collateral easing measures. Loans guaranteed by the public sector will be included in the collateral framework, there will be no minimum size threshold for domestic credit claims to be mobilized as collateral, and the minimum quality requirement for the acceptance of Greek sovereign debt was waived.
- Yesterday's meeting of EU finance ministers to agree on an EU-wide economic package against the coronavirus was still ongoing late at night but seemingly ended with no agreement on a coordinated action. Eurogroup President Centeno is scheduled to hold a press conference today morning to present its conclusions.