Daily Overview of Global Markets & the SEE Region (Tuesday, November 28, 2017)

Banking, Finance, Markets, News, Shipfinance, Statistics, Stock Markets — By on November 28, 2017 at 10:56 AM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The US Senate’s Banking Committee will hold today the confirmation hearing for Jerome Powell’s nomination to be the next Chair of the Federal Reserve (starting at 10am EST). The text of his prepared testimony that was released late on Monday did not deliver any surprises, supporting the view that the incoming Chair will continue Janet Yellen’s gradual and cautious approach to tightening monetary policy. That said, Jerome Powell’s hearing is unlikely to exert any significant market impact. Instead, focus is on the Senate Budget Committee which is expected to vote on its own version of tax reform before it is submitted for approval to the full Senate on Thursday. In the absence of major market movers, UST yields were little changed on the day while the majority of EMU periphery sovereign bond yields moved lower for the second consecutive session on easing political jitters in Germany. In FX markets, the DXY index was little changed compared toMonday’s settlement and still well below a month-to-date peak of 95.149 recorded on November 7.

GREECE: Deliberations between the institutions’ (EC, ECB, ESM and IMF) heads and the Greek government in the context of the 3rd programme review are resuming today with an aim to reaching an agreement on a technical level by Saturday. The main issues on the agenda are energy sector reforms, electronic auctions, family benefits, pensions and changes in the trade union legal framework.

SOUTH EASTERN EUROPE

CESEE MARKETS: Emerging market assets traded mixed earlier on Tuesday.

Viewers can log herebelow and read the full report:  Daily Overview November 28 2017

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