Bonds, stocks get ECB boost; euro unfazed
THE big question is whether European Central Bank (ECB) chief Mario Draghi's monetary bullets will be a shot in the arm for the sclerotic eurozone economies.
Negative interest rates and a 400 billion euro (S$684 billion) cheap central bank facility aimed at boosting business lending lifted equity and bond prices slightly, but the shotgun fired blanks at the euro.
After falling to a five-month low of 1.35 against the US dollar, the euro rebounded to around 1.365 on the back of short-covering from hedge funds, which had built a substantial bear position against the currency.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
BT subscribers can now share 5 premium articles a month with unlimited number of non-subscribers
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story