Investors welcomed signs of progress in the European Union’s negotiations over a landmark economic recovery plan Monday, pushing down government borrowing costs and boosting the euro to a four-month high. European Union leaders were inching closer to agreement on a likely €1.8 trillion ($2.06 trillion) coronavirus recovery package, comprising a multiyear budget and a recovery fund. Investors are increasingly hopeful that the talks, which diplomats said could stretch on into the evening, will result in a deal.

Source: Wall Street Journal July 20, 2020 14:03 UTC