Financial Markets Daily Report 20 October 2020
EU stocks fell slightly and periphery yields widened as the number of new Covid-19 cases grew and new restrictions were rolled out in a number of countries and regions.
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- EU stocks fell slightly and periphery yields widened as the number of new Covid-19 cases grew and new restrictions were rolled out in a number of countries and regions. The GBP gained following a tweet from Michel Barnier, the EU's Brexit negotiator, saying that the EU "remains available to intensify talks in London this week, on all subjects".
- U.S. stocks slid as time to strike a deal on additional fiscal stimulus before the presidential elections runs out. The S&P fell 1.6% and treasury yields widened slightly.
- Data released by China yesterday showed that its GDP grew 4.9% year-on-year in the third quarter of 2020, cementing the quickest recovery among the world's largest economies.
- The first set of bonds in the context of the EU's SURE loans program are set to be issued today. They will be issued in the form of 10-year and 20-year "social bonds".