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MILAN: The coronavirus crisis will create room for mergers and acquisitions between euro zone banks, both domestically and cross-border, since it is reducing profitability margins, European Central Bank supervisor Andrea Enria said on Tuesday.
FRANKFURT: The economic fallout from the coronavirus has battered a sector that never recovered from the global financial crisis more than a decade ago. The focus for the rest of the year is on how banks can handle looming loan losses, whether any will be able to pay dividends, and possible further regulatory relief.
COPENHAGEN: Major central banks in Europe and Asia are scaling back their offers of dollars to lenders in a sign of confidence that the pandemic’s grip on markets is loosening, even if the economic pain persists.
FRANKFURT: Germany is selling its second round of debt within days to a market still hungry for haven assets.
BERLIN: The rally in German bonds in the past week has reminded fund managers why betting against Europe’s safest assets is a risky business.
THE Covid-19 lockdowns have led to a deep economic dive, sending shockwaves around the world. IMF estimates world GDP will fall by 3% in 2020 (down 6.3 percentage points from its earlier forecast of +3.3% in late January).
BERLIN: Europe’s economy risks losing out on a massive dose of stimulus from its consumers.
SYDNEY: Investors shunning record-low yields should consider buying distressed debt and Australian semi-government bonds that are likely to benefit from ultra-loose monetary policy, according to Pacific Investment Management Co (Pimo).
LONDON/FRANKFURT: European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.