Bloomberg European funding costs have eased for the first time since a surprise German court ruling last week against the European Central Bank’s bond buying. Three-month Euribor, the rate at which banks lend to each other, ended a three-day rising streak. Funding costs are coming down thanks to the cooling of Italian bond yield spreads, which spiked after the constitutional ...

Bloomberg Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal. The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina ...

Bloomberg Italy’s debt load is so big that the country’s only chance is to get help from the European Union, according to Austrian Chancellor Sebastian Kurz. A chronic economic underperformer, Italy was already heading for a recession before pandemic hit. Now, with European Commission forecasting that GDP will shrink 9.5% this year, Italy’s debt is set to balloon to close to ...