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GLOBAL & REGIONAL DAILY (Thursday 5, March 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
March 5, 2020
Global Markets
Market sentiment on risk assets remained supported in early trade today, favored by the adoption of several stimulus measures by central banks and governments around the world to address the impact of the COVID-19 outbreak. US government bond yields moved modestly higher and the USD firmed but gains were limited amid expectations for further Fed rate easing ahead.
Greece
Following the Eurogroup conference call yesterday, it was announced that the Stability and Growth Pact rules allow “for a temporary deviation from the adjustment path, while preserving fiscal stability.” The Euroworking Group is mandated to work on policy options to prepare the ground for the 16 March Eurogroup when the situation will be reassessed.
CESEE
Serbia: The Q4 GDP print that came in early this week outperformed market expectations coming in at 6.2%YoY. GDP expanded by 6.2%YoY in Q4, from 4.8%YoY in Q3 and 2.7%YoY in Q2 and Q1 respectively, setting the annual economic growth rate at 4.1%, above the preliminary estimation of 4.0%.
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