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GLOBAL & REGIONAL DAILY (Thursday 27 May, 2021)

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GLOBAL & REGIONAL DAILY (Thursday 27 May, 2021)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

May 27 2021

Global Markets

German Bund yields remained on a downward trend, after recent comments by a number of ECB representatives appeared to tilt to the direction of a continuing “significantly faster” pace of PEPP purchases into Q3. In FX markets, the EUR/USD retreated close to 1.2200, following a spike above 1.2260 earlier this week.

Greece

According to a report by Moody’s, “there will be pressure to upgrade the Greek debt if further progress in structural reforms offered visible results in the form of stronger investments and enhanced further medium-term growth prospects”.

CESEE

The Serbian Ministry of Finance raised on Tuesday a lower than initially planned RSD2bn in 12-year bonds, amid investors’ lukewarm appetite. On the data front, bank lending growth held steady at 8.9% YoY in April while March’s real wages continued their upward trend since the beginning of the year.

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