Daily Overview of Global Markets & the SEE Region (Tuesday, January 31, 2017)

Banking, Company Profiles, Country Profiles, Finance, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on January 31, 2017 at 11:43 AM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The majority of euro area government bonds weakened on Tuesday amid heightened ECB tapering talk after Germany’s HICP rose to a 3 ½ year peak of 1.9%YoY in December. Elsewhere, most of global equity markets remained under pressure amid concerns about the impact of Donald Trump’s protectionism policies. In FX markets, the CHF and the JPY were among the main outperformers favored by their safe-haven appeal.

GREECE: The ESM Managing Director Klaus Regling stated on Monday that further financial aid shall be disbursed to Greece in the context of the 3rd bailout programme once the IMF decides to be part of the programme on the grounds that this is what the member states want and the institutional agreement that was agreed in the past. ESM Head added that the IMF does not need to provide funds but its expertise is required. According to provisional data released by the Hellenic Statistical Authority, the volume index in retail trade in November 2016 rose by 3.6%yoy, while excluding automotive fuel the annual increase was 5.2%. The seasonally adjusted volume index in retail trade in November 2016 fell by 0.2%mom while excluding automotive fuel, the index rose by 0.5%mom.

SOUTH EASTERN EUROPE

CESEE MARKETS: Emerging stock markets were on the back foot earlier on Tuesday amid lingering concerns over the new US President’s policies on trade and immigration. In FX markets, a weaker US dollar provided some support to emerging market currencies. On the other hand, the Turkish lira lost some ground earlier today, giving back some of yesterday’s gains.

Viewers can log herebelow and read the full report: Daily Overview January 31 2017

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