Daily Overview of Global Markets & the SEE Region (Friday, May 27, 2016)

Banking, Company Profiles, Markets, Person Profiles, Reports, Statistics, Stock Markets — By on May 27, 2016 at 9:23 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: US macro data continued to surprise positively yesterday, reinforcing expectations that the Fed will likely push interest rates higher in the near future.  Looking at today’s calendar, focus is on the second estimate of US Q1 GDP which is expected to be revised higher to 1.0%QoQ saar from 0.5%QoQ saar in the advance estimate, following a flurry of encouraging data pertaining to Q1 that were released over the last few weeks.

GREECE:  Following the agreement in principle of the May 24th Eurogroup for the release of the next loan tranche to Greece, domestic authorities have intensified their efforts for the completion of all pending issues. According to Greece’s Minister of Finance Euclid Tsakalotos, upon fulfilment of all pending issues, an amount of €7.5bn will arrive in state coffers- reportedly expected in the second half of June- out of which €1.8bn will be channeled for the clearance of state arrears.

SOUTH EASTERN EUROPE

ROMANIA: The budget execution was balanced in the first four months of the year. Credit to the non-government sector dynamics remained relatively unchanged in April.

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Daily Overview May 27 2016

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