The forint and Czech crown rebounded on Tuesday, with markets tuned to Hungary's central bank meeting where the pace of rate hikes may ease and Czech markets betting on a steeper rise in borrowing costs. Central European markets were knocked back on Monday by global investor jitters although they stabilised on Tuesday amid more confidence that contagion from the distress of debt-saddled Chinese developer Evergrande would be limited. Stock markets in Budapest and Warsaw rose around 1% and Prague gained 0.6% percent after Monday's sharp losses.
Biotechnology stocks are most likely the only stocks that will show the highest short term performance in 2020
A group of Lebanon's bondholders, including some of the world's biggest investment funds, urged the new government on Tuesday to begin debt restructuring talks as soon as possible to help address the country's grave financial crisis. Lebanon defaulted on its international debt in March 2020 after years of political upheaval and economic mismanagement left it unable to service a debt burden of more than 170% of GDP. Following a year of political deadlock, Lebanese leaders put together a new government led by Sunni Muslim tycoon Najib Mikati this month, tasking him with getting the economy back on its feet.
