GLOBAL & REGIONAL DAILY (Thursday, December 16, 2021)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
December 16, 2021
Global Markets
Despite the more hawkish tone, equity markets reacted positively to the FOMC policy outcome, the 2-yr UST yield retreated today to pre-Fed levels and the USD gave back post-Fed gains. Focus today is on the ECB, which is expected to make an announcement with respect to its purchasing programs. The BoE also convenes today.
Greece
According to ELSTAT, the seasonally adjusted unemployment rate in Oct-21 reached 13.3% compared to 16.4% in Oct-20 and 13.0% in Sep-21. Further spread tightening for GGBs ahead of today’s ECB meeting, with the 10YR yield spread against the German Bund narrowing close to 159bps earlier today.
CESEE
November’s CPI prints in the region point to continuing inflationary pressure. In Bulgaria, inflation accelerated to 7.3% YoY, marking the highest reading on an annual basis since December 2008 while in Serbia it accelerated to a record high of 7.5% YoY, remaining well above the upper end of the NBS target tolerance band.
Viewers can log here below and read the full report:
Find out more about our Economic Research and search for reports that may interest you.
