GLOBAL & REGIONAL DAILY (Tuesday 25 May, 2021)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
May 25 2021
Global Markets
Risk-on sentiment prevailed earlier today and 10-yr UST yields moved lower on somewhat allayed inflation concerns. Against this background, the USD was broadly weaker, with the EUR/USD hitting a four-month peak of 1.2261 earlier today.
Greece
The 10-yr GGB yield remained in a downward trend earlier today for the fourth consecutive session, hovering around 0.95% at the time of writing, the lowest level in around three weeks, taking the spread against its German counterpart to 110bps, the narrowest in over a decade.
CESEE
By mid-June Serbia and the IMF are about to seal the beginning of a new PCI agreement, which will run until 2023 and assist the reforms agenda of the country. On the data front, this week Croatia’s Q1-2021 GDP flash estimate is due, while April’s retail data will also draw attention.
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