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GLOBAL & REGIONAL DAILY (Friday 5 February, 2021)

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GLOBAL & REGIONAL DAILY (Friday 5 February, 2021)

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GLOBAL & REGIONAL DAILY

HIGHLIGHTS

February 5 2021

Global Markets

Risk sentiment remained upbeat amid continued progress on the vaccine roll out and increased hopes for further US fiscal stimulus. Meanwhile major sovereign bond yields remained close to y-day’s new highs, while gilts underperformed, hurt by the BoE’s hawkish tone. In FX markets, the USD remained broadly firm, ahead of today’s US January non-farm payrolls report.

Greece

According to Fitch ratings, in spite of the pandemic shock, Greece’s sovereign debt remains sustainable as there are a number of external and internal factors that keep risks subdued.

CESEE

Alvaro Santos Pereira, Director of the Country Studies Branch at the OECD, stated yesterday in an interview that it will take years before Bulgaria could join as a full-fledged member the OECD. In Serbia, the central government budget posted a deficit of -8.3% of GDP, which is milder than the -8.8% of GDP target foreseen in the latest revision of the 2020 budget law.

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