ECB supports peripheral eurozone bonds from post-Brexit rout
London
THE European Central Bank (ECB) came out in force to buy peripheral eurozone government bonds on Friday, providing crucial support after the UK voted to exit the European Union in a referendum on Thursday.
Bonds from Italy, Spain and Portugal plummeted on Friday's open in the hours after the referendum result but had partially recovered by the end of the day. This was largely due to the ECB's efforts, according to two syndicate bankers who cover sovereign, supranational and agency debt.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’
US jobs growth slows in April; jobless rate up to 3.9%
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected