Daily Overview of Global Markets & the SEE Region (Wednesday, November 15, 2017)

Banking, Finance, Markets, News, Reports, Shipfinance, Statistics, Stock Markets — By on November 15, 2017 at 10:59 AM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The EUR retained a firm tone in European trade on Wednesday supported by Germany’s firmer than expected Q3 GDP data released in the prior session. Turning to equity markets, European bourses opened mostly in the red today following Wall Street’s losses overnight mainly due to lower oil prices ahead of theNovember 30th OPEC meeting. In core government bond markets, German Bunds were firmer in European trade as Tuesday’s down move in reaction to strong German Q3 GDP reading was seen as a buying opportunity. In the US, the yield curve continued to flatten with the 2/10-yr spread narrowing to fresh multi-year lows. Focus today is on US inflation data for the month of October.

GREECE: Following the approval of the ESM, the ECB and the IMF, the Public Debt Management Agency is planning today an offer to exchange 20 bonds of EUR29.7 billion nominal value issued under the PSI in 2012 with maturities from 2023 to 2042, with 4 or 5 bonds of the same nominal value and maturities between 5 and 25 years. The government plans to grant an extraordinary social dividend of EUR720 million to economically weak and vulnerable households as well as an amount of EUR360 billion for the coverage of general interest services to the Public Power Corporation.

SOUTH EASTERN EUROPE

CESEE MARKETS: Trailing losses in major global bourses emerging stock markets broadly weakened earlier today as the drop in oil prices sapped investor interest for energy stocks. In FX markets, regional currencies mostly firmed earlier today compared to the prior session’s settlement thanks to the US dollar’s retreat.

Viewers can log herebelow and read the full report: Daily Overview November 15 2017

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