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GLOBAL & REGIONAL DAILY (Wednesday 6, May 2020)
HIGHLIGHTS
May 6, 2020
Global Markets
In an unexpected move, the German Federal Constitutional Court ruled yesterday that parts of the ECB’s PSPP are in violation with the German constitution. In reaction to the above, the yields of the majority of the periphery EGBs moved higher and the EUR weakened against the rest of the G10 currencies.
Greece
The heads of the four systemic banks estimated that the financing to the Greek economy through the relevant tools will reach €16 billion in 2020. Meanwhile, according to press, Greece is considering at least two more bond issues by the end of the year in order to raise €4 billion.
CESEE
Serbia: Elections will be held on May 4, according to President, Aleksandar Vucic’s announcement on May 4. S&P Ratings kept Serbia’s long-term credit rating at BB+, but revised the outlook to stable from positive as part of its extraordinary rating review.
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