S&P 500 futures jump as EU may consider massive joint bond sales to fund energy, defense

Dhwani Mehta FXStreet

Risk sentiment is seeing fresh signs of life following a Bloomberg report that the European Union (EU) is set to outline a plan this week to jointly issue bonds on a potentially massive scale to finance energy and defense spending.

Additional details

“The proposal may be presented after the EU’s leaders hold an emergency summit in Versailles, France, March 10-11.”

“Officials are still working out the details on how the debt sales would work and how much money they intend to raise.”

Market reaction

Amid a renewed risk-on wave, the S&P 500 futures recovered losses, last seen up 0.20% on the day.

Meanwhile, gold prices fell back to test $2,000 after hitting the highest level since August 2020 at $2,021.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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