The EUR Week - Bias is Bearish
EUR/USD enjoyed a decent bounce off its 1.1048 overnight low after the Fed slashed rates to zero, with the recovery move taking us just shy of a 1.1200 test before fresh sellers emerged (offers linked to options and spec accounts).
Russia Better Positioned to Deal With Sustained Low Oil Prices
The general consensus is that Russia is now fundamentally better positioned than it was back in 2008 and 2016, the last oil price shocks, and will suffer less pain than Saudi Arabia if low oil prices persist.
ABS Trio Print in Weak Market as Stimulus Packages Launch
Three European securitisation issuers braved the market to price new transactions last week, but the stress on spreads was evident. This all came in a week where central banks launched stimulus packages to ensure continued provision of liquidity, some of which could impact securitisation issuance volumes.Read more from The Context and subscribe to have it delivered to your inbox each week!