GLOBAL & REGIONAL DAILY (Friday 19 March, 2021)
GLOBAL & REGIONAL DAILY
March 19 2021
USTs remained under some pressure in early European trade today, as investors appear to have shrugged off the dovish FOMC message at this week’s monetary policy meeting. Meanwhile, oil prices dropped, partially pressured by concerns that recent gains have been too rapid.
According to ELSTAT, the annual average of the overall index of persons employed in the retail sector (provisional data) increased in 2020 by 0.5%YoY, while excluding the food and automotive fuel sector it decreased by 2.9%YoY. Greece proceeded yesterday to the early repayment of another €3.3bn of IMF loans.
Central Banks’ (CB) meetings held y-day in several large EMs point to a fledging monetary tightening cycle, amid surging inflationary pressures. In Turkey, the MPC raised the one-week repo interest rate by 2pps to 19%., while markets expected a rate hike of half that magnitude.
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