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Combined flows to EPFR-tracked Europe Equity and Bond Funds during the third week of April hit their highest total since last June as Italy and Spain unveiled large infrastructure and clean energy packages, Germany’s Constitutional Court lifted its injunction on deployment of the European Union’s Rescue Fund and COVID-19 vaccination rates continue to pick up.
Sentiment towards Europe was also boosted by signs that Russia will reverse its recent build-up of troops on the Ukrainian border, some solid earnings reports and expectations that the European Central Bank (ECB) will maintain its ultra-accommodative policies. The benchmark Euro Stoxx 600 index hit a new record high while faith in the ECB kept Eurozone bond yields contained.