In spite of a rather poor Wall Street and Asian session for risk trades, European risk assets gained following the launch of a cash session on the Old Continent today. Sentiment improved on news of a possible joint bond sale by EU countries. According to media reports, EU will discuss this week a possibility of launching a joint bond sale in order to finance energy transformation as well as defense spending. Proposal will be discussed during a summit in France that will be held on March 10-11, 2022. Funds will be distributed as preferential loans.
Stock market indices recovered from losses following the news while euro regained some ground against US dollar. DE30 broke back above 13,000 pts with defense, energy and fuel sectors gaining the most. EURUSD attempted to break back above 1.09 handle.
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DE30, as well as other European indices, gained on news of a possible joint EU bond offering. EURUSD broke above 1.09 for a moment but has given back some of the gains later on. Source: xStation5
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