EconomyRecession Fears: Big Losses in Markets, Euro at 20-Year...

Recession Fears: Big Losses in Markets, Euro at 20-Year Low, Bonds Fall in Eurozone


- Advertisement -

Bond prices are falling across the Eurozone today as the PMI release shows the economy is on the verge of recession.

- Advertisement -

It is indicative that the 10-year German bond yield exceeded 2%. The PMI, which measures economic activity, fell in September for the third month in a row, falling to lower levels than in 2013, excluding the pandemic period. with the recession showing signs of acceleration in manufacturing and services.

- Advertisement -

“The third consecutive fall in the Eurozone PMI shows that business activity contracted during the quarter. This confirms our view that the recession may already have started,” said Bert Colijn of ING.

- Advertisement -

A Reuters poll earlier this month gave a 60% chance of a eurozone recession within a year.

The euro remains under pressure against the dollar

These events negatively affected the euro exchange rate, which fell below the level of 0.98 against the dollar.

In HDAT, transactions amounting to 50 million euros were recorded, of which 26 million euros corresponded to purchase orders.

10-year bond yield rose to 4.62% from 4.44% yesterdayagainst 2% of the corresponding German title, with which the margin was 2.62%, from 2.48% that closed yesterday.

In the forex market, the dollar strengthened against the euro, with the European currency trading at $0.9736 in the early afternoon, from $0.98490 when the market opened.

The indicative price of the euro/dollar exchange rate is announced The ECB settled at $0.9754.

What is happening in the eurozone economies?

its recession German of business activity rose as higher energy costs hit Europe’s largest economy and new business activity fell.

However, the activity in France It was higher than expected, although the PMI showed the eurozone’s second-largest economy was still struggling as a modest recovery in services offset a drop in manufacturing.

A BrittanyOutside the European Union, the economy worsened as companies grappled with rising costs and falling demand, also raising the growing risk of a recession there. In a bid to boost growth, the UK’s new finance minister, Kwasi Kwarteng, on Friday unveiled a nearly $223.2 billion plan for tax cuts, energy subsidies and reforms.

The Athens Stock Exchange was also under pressure – Loss 2.39%

Share prices on the Athens Stock Exchange came under heavy pressure today, with the market retreating from 800-unit levels, amid heavy pressure in European markets.

Investors in European stock markets are concerned about a possible recession in the European economy after today’s macroeconomic data on the trajectory of the European economy, which further weighed on confidence after the successive rises in interest rates.

At the center of the liquidations were bank shares, while the total market capitalization decreased today by 1,347 million euros.

The General Price Index closed at 798.11 points, registering losses of 2.39%. It is the lowest close since the session of July 15, 2022 (794.62 points).

source: iefi merida

- Advertisement -


Please enter your comment!
Please enter your name here

- Sponsored-spot_img

Latest news

Myanmar’s former president speaks at his trial in the first hours of the military coup

The former president of Myanmar, Win Myed, who after the February military coup faces several legal proceedings together with...

Theodorikakos: “SYRIZA’s position on the Polytechnic University is challenging. There was great tolerance from many”

Takis Theodorikakos accused SYRIZA and Alexis Tsipras of a provocative and hypocritical attitude regarding the recent police operation at...

Teases: Within 2021 the results of the studies on the pill – Why they made the vaccine first

Before the end of 2021, the results of the studies on Pfizer's anti-coronavirus pill are expected, as revealed today...

This is the trick to avoid paying tolls on the National and Attiki Highways

Toll denial incidents are on the rise, with "jumpers" inventing more and more ways to get past the bars...air....
- Advertisement -spot_img

Aliki Vougiouklakis and Dimitris Papamichael in their first appearance as engaged

Aliki Vougiouklakis and Dimitris Papamichail remained in the world consciousness as two great actors and a beloved couple. The two...

Dorothea Merkouri in her kitchen in her underwear – The 90s black and white click

A photo from the 1990s was posted on Instagram by Dorothea Merkouri, where she poses in her kitchen in...

Must read

The shocking car accident that froze Italy – I was filming at 300 km/h

One dead and two seriously injured were the tragic...

You might also likeRELATED NEWS
Recommended to you