Daily Overview of Global Markets & the SEE Region (Friday, January 29, 2016)

Banking, Company Profiles, Finance, Markets, Person Profiles, Reports, Statistics, Stock Markets — By on January 29, 2016 at 11:17 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: The BoJ surprised markets by introducing a negative interest rate of 0.1% at its policy meeting today while maintained unchanged its monetary base target and the annual pace of asset purchases.  In response to the BoJ announcement, the majority of global equity markets were firmer in early trade on Friday while the JPY fell across the board.

GREECE: Speaking to reporters, EU Commissioner for Economic and Financial Affairs Pierre Moscovici expressed his confidence that the ECB/EC/IMF/ESM mission heads will arrive in Athens in the coming days to commence discussions with domestic authorities in the context of the 1st programme review. On the data front, the Economic Sentiment Indicator improved in January for the fifth month in the last six months coming in at 91.6, the highest since May 2015.

SOUTH EASTERN EUROPE

ROMANIA: Credit to the non-government sector continued recovering in December driven by the robust local currency dynamics, edging up to +3.0% YoY from +2.3% YoY in November.

CESEE MARKETS: Emerging stock markets extended this week’s gains in early European trade today recouping part of this month’s drop thanks to a timid recovery in global oil prices from recent 12-year lows and further monetary stimulus announced overnight from the Bank of Japan. In the CESEE region most bourseswere broadly firmer earlier today, with the majority of regional currencies and local-currency denominatedgovernment bonds also moving higher thanks to improving market sentiment. In the local rates markets, Serbia’s finance ministry sold at an auction on Thursday RSD9.6bn (~€0.08bn) of 4% 2018 T-Bonds, at an average accepted yield of 4.95%.

Viewers can read the full report herebelow:

Daily Overview January 29 2016

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