European Semester: The Spring Package

The European Commission proposed on 20 May country-specific recommendations (CSRs) providing economic policy guidance to all EU Member States in the context of the coronavirus pandemic, focused on the most urgent challenges brought about by the pandemic and on relaunching sustainable growth.

EU tees up sophomore effort

The European Union will likely go big once again for its second trip to the capital markets to fund its Support to Mitigate Unemployment Risks in an Emergency funding programme, and the obstacles to its €750bn recovery fund are slowly falling away.

No blue wave but US stimulus still likely

Just because it seems unlikely that in the US election the Democrats will take both the White House and the Senate, it does not mean that capital markets should become despondent about a fiscal stimulus package that could have reached $2.3tr had the so-called “blue wave” made a clean sweep.

Swiss franc November pipeline builds

A pipeline of deals is building in the Swiss franc bond market for when the US election is concluded. Among those circling the market is Caisse des Dépôts et Consignations, which could finish its 2020 funding with a public benchmark.