Daily Overview of Global Markets & the SEE Region (Wednesday, February 10, 2016)

Banking, Company Profiles, Finance, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on February 10, 2016 at 10:04 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: Lingering worries over the sustainability of the global economic recovery and persisting concerns about the health of European banks, continued to weigh on market sentiment towards global equity markets on Wednesday. Increased risk aversion favored the safe-haven appeal of major government bonds while the USD remained under pressure on the view that negative global financial developments may prevent the Fed from raising interest rates any time soon.

GREECE: Prime Minister Alexis Tsipras has called a ministerial meeting this morning to discuss the latest key domestic developments including the open issues whose implementation is required for the completion of the 1st programme review as well as farmers’ escalating protests against the planned overhaul of the income tax and the social security pension system. With respect to the first issue, Minister of Finance Euclid Tsakalotos warned earlier this week that the programme review should conclude by the end of February noting that Greece will be “in trouble” if it carries on into May-June.

SOUTH EASTERN EUROPE

ROMANIA: NBR Governor Mugur Isarescu presented yesterday the Central Bank’s February Inflation Report, where the NBR upgraded its year end inflation forecast in 2016 to +1.4% YoY vs. +1.0% YoY previously.

CESEE MARKETS: Emerging stock markets were little changed in early European trade on Wednesday, following a 2-session decline, as investors remained on the sidelines ahead of the Fed chair Janet Yellen’s semi-annual testimony to the US Congress later on the day. Separately, CESEE currencies and government bonds recovered some ground in European trade today on comparably better economic growth prospects compared to their global EM peers.

Viewers can read herebelow the full report:

Daily Overview February 10 2016

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