Daily Overview of Global Markets & the SEE Region (Wednesday, February 14, 2018)

Banking, Finance, Markets, Reports, Shipfinance, Statistics, Stock Markets — By on February 14, 2018 at 11:59 AM



GLOBAL MARKETS: Amid signs of increasing US inflation pressures following a higher than expected rise of 2.9%YoY in January average hourly earnings, which pushed bond yields higher and weighed heavily on equities, all eyes today are on US consumer prices for January.  Meanwhile, core bond markets were moderately firmer in European trade with the exception of UK bonds following yesterday’s firmer than expected UK inflation data, which increased the risk for a BoE rate hike in the coming months. In FX markets, safe-haven related currencies outperformed.

GREECE: Greek bonds remained under pressure yesterday with the 10-year GGB yield rising for the sixth consecutive day to 4.43%, the 7-year GGB yield remaining above 4.0% and the 5-year GGB yield standing in the area of 3.75%, the highest level since December 2017. The conversion of traditional auctions to electronic ones is reportedly continuing with 1,341 auctions having been transferred to the platform so far while 20 e-auctions are scheduled for today. With regard to the post-programme framework for Greece, a European Commission spokesperson reportedly stated that “We do not wish to speculate or make further comment on that form at this time […] the precise details of any post-programme support arrangement, and the appropriate type of post-programme surveillance as provided for in EU law, will be discussed at the appropriate time.”


CESEE MARKETS: Εmerging market assets extended this week’s recovery earlier on Wednesday as risk appetite improved.

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