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GLOBAL & REGIONAL DAILY (Wednesday 20 January, 2021)

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GLOBAL & REGIONAL DAILY (Wednesday 20 January, 2021)

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GLOBAL & REGIONAL DAILY

HIGHLIGHTS

January 20 2021

Global Markets

Italy’s PM Giuseppe Conte secured another crucial positive confidence vote in the Senate y-day. Meanwhile, risk-on prevailed earlier today following comments by incoming US Treasury Secretary Janet Yellen that the government should “act big” on the next Covid-19 relief package. Today, US President-elect Joe Biden will be inaugurated at 12pm EST and he is expected to sign a number of Executive Orders soon after.

Greece

According to ELSTAT, the overall turnover index in industry in Nov-20 recorded a decrease of 2.9%YoY, while total building activity in Oct-20 decreased by 4.9%YoY. According to the Wave 4 ETC report, Greece was ranked fourth by respondents among the most preferred countries for the next intra-European travel.

CESEE

The Bulgarian National Bank (BNB) improved its 2020 GDP recession forecast for Bulgaria to -4.4% and expects the economy to surpass its pre-crisis levels in 2022, having expanded by 3.7% and 3.6% in 2021 and 2022 respectively. The Serbian Ministry of Finance raised RSD27.6bn in 12-year bonds yesterday at an average yield of 3.44%, which is below from the yield of 3.85% achieved at the previous identical auction held in December.

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