GLOBAL & REGIONAL DAILY (Wednesday 4, December 2019)

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GLOBAL & REGIONAL DAILY (Wednesday 4, December 2019) 

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

December 4, 2019

Global Markets

Global risk sentiment worsened, core government bonds firmed and safe-haven currencies climbed on the back of fading hopes for a near-term preliminary US/China trade deal. US President Donald Trump warned that a trade deal may have to wait until after the US Presidential election in November 2020 and US Commerce Secretary Wilbur Ross clarified that sticking points remain.

Greece

Speaking at the American – Hellenic Chamber of Commerce conference yesterday, the Minister of Finance Christos Staikouras stated the intention of the government to submit to Parliament the new framework (Hercules) for the reduction of bad loans next week. He also laid out the five main goals of economic policy as follows: 1) expand and improve domestic production, 2) adhere to the agreed fiscal targets, 3) stabilise the financial system, 4) strengthen the capital market, and 6) enhance liquidity in the real economy.

CESEE

Bulgaria: The Producers Price Index (PPI) slowed to 3.8% YoY in October down from 4.5% YoY in September. Standard and Poor’s raised the long-term sovereign rating of the country by one notch to BBB from BBΒ- with a positive outlook.

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