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GLOBAL & REGIONAL DAILY (Tuesday, 16 June 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
June 16 2020
Global Markets
Global equity markets moved higher earlier today, supported by the Fed’s announcement that it would buy corporate bonds through the secondary market corporate credit facility (SMCCF). Pressured by risk-on mode, long-dated USTs and the USD weakened. Fed Chair Jerome Powell testifies before the Senate Banking Committee (14:00 GMT).
Greece
According to the preliminary data for the State Budget Execution in May 2020, the State Budget balance for the period of Jan – May 2020 recorded a deficit of €7,445mn, against a 2020 Budget target of a deficit of €2,512mn, primarily due to the measures taken against the COVID-19 pandemic.
CESEE
SERBIA: The EUR/RSD remained bound within a tight range of 117.50/60 – 117.55/65 in the past week TURKEY: The current account deficit deteriorated further to USD5bn in April compared to only USD470mn in the same month a year ago.
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