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GLOBAL & REGIONAL DAILY (Thursday 3 December, 2020)

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GLOBAL & REGIONAL DAILY (Thursday 3 December, 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

December 3 2020

Global Markets

Poor US data y-day allowed US Treasuries to recover some ground, but gains were limited, amid rising optimism about a Covid-19 vaccine roll out soon and hopes for a $908bn fiscal stimulus package. In FX markets, the EUR-USD rally continues, hitting a fresh year-to-day peak of 1.2139 earlier today.

Greece

The headline PMI Manufacturing for Greece posted 42.3 in Nov., down from 48.7 in Oct., which constitutes the steepest deterioration in the overall manufacturing sector performance since May.

CESEE

The OECD revised upwards its projection for Bulgaria’s economy, projecting a -4.1% GDP contraction in 2020, compared to a -7.1% dip forecast previously. The Serbian government has scheduled to table on December 8 the  2021 Budget envisaging a fiscal deficit of -3% of GDP, despite the Fiscal Council’s warning for a more frugal approach.

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