Daily Overview of Global Markets & the SEE Region (Friday, June 30, 2017)

Banking, Company Profiles, Finance, Markets, News, Person Profiles, Reports, Shipfinance, Statistics, Stock Markets — By on June 30, 2017 at 11:21 AM

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



GLOBAL MARKETS: Yields of core government bonds remained in an upward trend in European trade on Friday in response to recent hawkish comments from G10 central bankers suggesting that the Fed is no longer the only G10 Central Bank on a tightening mode. In FX markets, the USD continued to lose ground across the board as the majority of market participants are increasingly doubtful on the extent to which the Fed can push interest rates higher in the coming months. On the data front, focus today is on the flash estimate for the euro area’s June headline inflation while in the US, the most interest releases centre on the May personal income and spending report.

GREECE: According to recent press reports, the Greek government fulfilled the three remaining prior actions attached to the release of the first (out of two) disbursement amounting to €7.7bn of the €8.5bn loan tranche approved at the June 15th Eurogroup following the successful completion of the 2nd review. The ESM Board of Directors is expected to convene on July 6th to endorse the supplemental MoU and approve the release of the loan disbursement to Greece that is expected to arrive into State coffers in time for the coverage of July’s debt redemptions. In other news, the Economic Sentiment Indicator for Greece improved in June mainly supported by an increase in industrial, services and consumer confidence indices with the latter moving higher for the third month in a row. The headline came in at 94.0 from 93.2 in the prior month and 90.2 in the same month a year earlier.


ROMANIA: Even though the Economic Sentiment Index (ESI) softened in June, it still stands very close to the post Lehman Brothers period high.

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