Daily Overview of Global Markets & the SEE Region (9 January 2015

Automobiles, Banking, Finance, Markets, News, Reports, Shipfinance, Stock Markets — By on January 9, 2015 at 11:37 AM
Dr. Platon Monokroussos,  Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: In FX markets,  the EUR remained under pressure in European trade on Friday amid increased expectations that the ECB will likely adopt additional stimulus measures early next year involving government bond-purchases. Focus today is on the US’ non-farm payrolls report for December which has the potential to provide additional support to the USD across the board should it surprise positively.

GREECE: ECB Executive Board member Benoit Coeure was quoted as saying in an interview with a French radio station that market discussion on a Greek exit from the euro area is “meaningless”. On the data front,  Greece’s seasonally adjusted jobless rate dropped in October to 25.8%, the lowest level in more than two years from 26.0% in the prior month. This follows a cyclical peak of 28.0% recorded in September 2013.

SOUTH EASTERN EUROPE

SERBIA: Out of the RSD 10bn offered, the Public Debt Administration sold RSD 5.8bn in 2-year bonds at an auction on Thursday. The said paper bore an 8% coupon, while the achieved yield came in at 9.29%.

ROMANIA: The finance minister announced y-day that Romania met the fiscal target for FY-2014 that was agreed with the IMF.

BULGARIA: According to Eurostat, Bulgaria’s industrial producer price index (PPI) rose by 0.3%YoY in November, halting an 18-month falling streak.

Viewers can read the full report herebelow:

Dailyoverview January 9, 2015

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