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GLOBAL & REGIONAL DAILY (Thursday, 13 February 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
February 13, 2020
Global Markets
Although Wall Street surged to new record highs overnight, risk-off sentiment prevailed on Thursday morning as the number of reported cases in China’s Hubei province jumped by 14,840 and new fatalities rose by 242, double the previous day’s death toll. In FX markets, the EUR/USD fell to its lowest level since April 2017, following the disappointing Euro area IP data for December.
Greece
The 10-year bond yield was 0.961 pct in midday trade yesterday, down 7.0 pct from Tuesday’s closing level, while the 5-year bond yield was 0.3 pct, down 13 pct from the previous day. The record-breaking performance is largely attributed by international press to implemented reforms as well as a friendlier business environment. According to ELSTAT, in the period Dec-18 to Nov-19 private building activity increased by 8.6% compared to the period Dec-17 to Nov-18. The deadline for the expression of interest for DEPA Infrastructure, which was tomorrow, was extended by HRADF to 21 February 2020.
CESEE
Bulgaria: The shareholders of Investbank approved yesterday an increase of the equity capital by up to EUR 11.2mn, partially tackling partially the capital adequacy shortfall of EUR 51.8mn, as indicated in the AQR conducted by the ECB in mid-2019.
Serbia: The Ministry of Finance raised EUR 59.9mn in 2-year bonds at an auction held yesterday.
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