Daily Overview of Global Markets & the SEE Region (Monday, January 08, 2018)

Banking, Finance, Markets, News, Reports, Shipfinance, Statistics, Stock Markets — By on January 8, 2018 at 1:20 PM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Extending recent gains, the majority of European bourses retained a positive tone in early trading on Monday amid expectations that the global economy is likely to gain some further momentum in 2018. Turning to fixed income, relatively upbeat global market sentiment pushed yields higher at the beginning of the year. In FX markets, the EUR started the year on a positive tone helped by the latest string of firmer than expected euro area data and recent hawkish comments by the ECB’s Benoît Cœuré and Ewald Nowotny. Looking at this week’s calendar, major data releases include Friday’s US retail sales and inflation data for December. As regards key events, two FOMC voting members will speak today (Atlanta Fed President Raphael Bostic and San Francisco Fed President John Williams) while the ECB is due to release on Thursday the monetary policy account of the 14 December monetary policy meeting.

GREECE: The Greek government is reportedly intending to table to Parliament by Wednesday the multi-bill with the remaining prior actions in the context of the 3rdprogramme review. The multi-bill is expected to be voted in time so that the review may successfully close at the January 22nd Eurogroup. On the back of optimism for the successful completion of the review, Greece’s 10-year bond yield has fallen at its lowest in 12 years standing at the time of writing at 3.752% 

SOUTH EASTERN EUROPE

BULGARIA: Bulgarian equities and local currency government bonds followed the world-wide rally in the beginning of the new year, while Eurobonds ended last week little changed.

SERBIA: The dinar ended the first week of the year with modest losses amid increased demand for euros.

Viewers can log heebelow and read the full report: Daily Overview January 8 2018

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