EU Eyes $2.2 Trillion Plan; ECB Accepts Junk-Rated Bonds

Apr.23 — The European Fee is floating a 2 trillion-euro ($2.2 trillion) plan for financial restoration as stringent lockdowns amid the coronavirus pandemic shuttered factories and halted journey, pitching the world’s largest buying and selling bloc into the worst recession in residing reminiscence. The European Central Financial institution additionally took steps, saying it will settle for some junk-rated debt as collateral for loans to banks. Andrew Sheets, chief cross-asset strategist at Morgan Stanley, feedback on the strikes on “Bloomberg Markets: European Open.”