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GLOBAL & REGIONAL DAILY (Tuesday 20 July, 2021)

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GLOBAL & REGIONAL DAILY (Tuesday 20 July, 2021)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

July 20  2021

Global Markets

Risk-off mode prevailed in global markets on Monday, as increasing worries about the impact of the spread of the Delta variant on the global economic recovery drove global equities lower for the fifth consecutive session, the longest losing streak since the start of the pandemic. Safe-haven government bonds gained further, while the JPY and the USD traded near multi-month highs. Asian shares extended their losses earlier today.

Greece

According to the IMF Article IV Consultation Staff Report, public debt is projected to decline in the medium term but uncertainty is too high to allow for a firm conclusion on the sustainability of debt in the long term.

CESEE

Given the rather light economic calendar of the region during the current week, attention turns on developments in the international relations and political front. Focus will be on Bulgaria’s efforts to form a government following the July 11 snap general election.

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