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GLOBAL & REGIONAL DAILY (Friday 12 February, 2021)

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GLOBAL & REGIONAL DAILY (Friday 12 February, 2021)




February 12 2021

Global Markets

Positive sentiment on the Biden Administration’s fiscal stimulus plan and vaccine rollout continues to affect risk appetite, while the DXY index remained  close to this week’s 90.251 two-week low. In the EMU sovereign bond markets, BTPs continued to outperform, on reports that PM-designated Mario Draghi will be supported by the Five Star Movement to form a new government.


According to the EC’s Winter Economic Forecast, the extension of containment measures well into Q1-2021 is expected to weigh on recovery with annual real GDP growth forecast to reach 3.5% in 2021 and 5% in 2022 (from 5% and 3.5% in the Autumn forecast).


In the Winter Economic Forecast released yesterday by the EC, real GDP in Bulgaria is forecasted to expand by +2.7% in 2021 and +4.9% in 2022. The forecast for 2021 is broadly in line with the Autumn forecast, while 2022’s current forecast has sizably improved compared to November’s 3.7%.

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