* Eurogroup tipped to agree joint debt issuance on Tuesday. * German bond yields rise 7-10 bps across the curve. * Risk assets rally as COVID-19 death toll increase slows. * Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Abhinav Ramnarayan.
Many Italian companies and academics are pressing the government to reopen factories to prevent an economic catastrophe, as the world watches how the first Western country to impose a lockdown can extricate itself from the unprecedented measures.
Portugal's banking association is calling on the government and the European Union to stimulate the economy to prevent a sharp rise in bad loans as a result of the coronavirus crisis. The country's banking sector is still scarred from a debt crisis and spike in non-performing loans after a 2010-13 recession which led to the collapse of banks like Banif in 2015.
Germany's leading economic research institutes expect Europe's biggest economy to shrink by 4.2% this year due to the effects of the coronavirus, two people familiar with the numbers told Reuters on Tuesday, before rebounding by 5.8% next year. Envisaging a serious recession, the institutes are due to announce their latest forecasts on Wednesday.
The Dutch finance minister Wopke Hoekstra repeated on Tuesday that the Netherlands would not support the use of "eurobonds" to combat Europe's coronavirus outbreak and it would only support using the European Stablity Mechanism with conditions.
* Eurogroup tipped to agree joint debt issuance on Tuesday. * German bond yields rise 6-9 bps across the curve. * Risk assets rally as COVID-19 death toll increase slows. * Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Abhinav Ramnarayan.
German industry output rose by 0.3% in February, beating expectations, but the figures reflect the period before the coronavirus significantly affected Europe's largest economy and the Economy Ministry warned of an impending collapse.
German industrial production unexpectedly rose on month in February, federal statistical office Destatis said Tuesday, adding that the coronavirus didn't yet have any notable impact on the indicator for the German industrial sector. Total industrial output--comprised of output in manufacturing, energy and construction--increased 0.3% in February from January, in calendar-adjusted terms. Economists had forecast a 0.9% decline in February, according to a poll by The...
German industry output rose by 0.3% in February, surpassing economists' expectations, but the figures reflect the period shortly before the coronavirus pandemic started to majorly affect Europe's largest economy. Figures released by the Statistics Office showed a 1.8% increase in the production of German consumer goods but a 0.3% decline in capital goods.
German industrial output will likely tumble in the coming three months, the Ifo institute said on Tuesday as its index for production expectations saw its biggest drop since the survey was first conducted in 1991.
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