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GLOBAL & REGIONAL DAILY (Thursday, 8 July 2021)

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GLOBAL & REGIONAL DAILY (Thursday, 8 July 2021)



July 8  2021

Global Markets

US Treasuries extended recent gains reflecting a continued unwind of the reflation trade, while the USD gained broadly after the latest FOMC minutes confirmed that the Committee began talking about tapering asset purchases. Focus today is on the results of the ECB Strategy Review at 13:00 CET followed by a press conference at 14:30 CET.


According to ELSTAT’s monthly labour force survey (s.a data), the average unemployment rate increased to 16.5% in Jan-Apr 21 from 16.0% in Jan-Apr 2020.


In its summer forecast released y-day, the EC revised upwards its GDP growth forecast for Bulgaria to 4.6% in 2021, compared to 3.5% projected in the spring forecast in May, with risks to the outlook currently considered as broadly balanced.

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