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European Borrowing Costs Drop on Proposed Coronavirus Fund

Bond yields in Europe’s riskiest economies fell Tuesday after France and Germany proposed a recovery fund to support countries hard-hit by the coronavirus.

Investors took the proposed €500 billion ($546 billion) fund as a sign that the European Union’s richest members would support nations with limited fiscal reserves. In particular, that could help highly indebted Southern European countries such as Italy and Greece whose borrowing costs have risen during the pandemic. The new financial support would come on top of a €540…

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