The EUR Week - Bias is Bullish
EUR/USD made decent gains throughout last week as the EU's Eur 750bln recovery plan continued to boost the single currency, while a rise in broader risk appetite had seen demand for the Usd peter out as countries across the globe emerge from lockdown.
Euro Corp Comment: Issuers Enjoy Pricing Power at End of Busiest May on Record
Despite the last day of the month drawing a blank, we saw the largest May issuance total on record this year with the jumbo EUR63.025bn dwarfing the previous biggest of May 2016 (EUR44.2bn).
General Recovery in EM Stocks Has Scope to Persist, But May Still Lag Developed Markets
The market mood has generally turned constructive - offering a period of healing for risks assets - after the worst sell-off since the 2008-09 global financial crisis. This is thanks to a combination of the wave of unprecedented stimulus undertaken by central banks and governments to try and shore up their struggling economies, as well as, more recently, efforts around the globe to ease stringent lockdowns.