Macro News
Euro: After days of negotiations, EU leaders eventually agreed on a EUR 1.8 trillion package, composed of a EUR 750 billion recovery fund and a EUR 1.07 billion seven-year budget framework for 2021-2027, sending a positive signal to the market that the euro area is leaning towards the creation of a euro bond market. In addition, the relaxation of fiscal policies especially in troubled southern states may generate positive growth surprises in the short run with investors rapidly becoming more optimistic on the outlook of European assets, especially on the single currency. The