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GLOBAL & REGIONAL DAILY (Thursday 9, January 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
January 9, 2020
Global Markets
Risk aversion eased on reduced fears over a further immediate escalation in the Middle East after a US strike on 3 January that killed a senior Iranian military commander. European bourses opened higher, USTs and Bunds gave back part of recent hefty gains earlier today, while oil and gold prices dropped to levels that prevailed before the killing of the Iranian commander.
Greece
The Economic Sentiment Indicator in Dec-19 rose by 2.5 points MoM reaching 109.5 points, the highest level since Oct-07 and for the 6th month above Eurozone average. Meanwhile, addressing the personnel of the BoG yesterday, its Governor Yiannis Stournaras estimated that GDP growth will be a little above 2% in 2019 and c. 2.5% in 2020 while the primary surplus targets of 3.5% of GDP will be met in both these years.
CESEE
In the Global Economic Prospects report released yesterday, the World Bank (WB) maintained its GDP growth forecast for Bulgaria at 3.0% in 2020, revised lower its 2020 GDP growth forecast to 3.9% from 4.0% for Serbia and forecasts GDP growth to recover to 3.0% in Turkey in 2020.
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