Daily Overview of Global Markets & the SEE Region (Friday, February 16, 2018)

Banking, Company Profiles, Finance, Markets, Reports, Shipfinance, Statistics, Stock Markets — By on February 16, 2018 at 10:45 AM

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: US Treasury yields retreated from yesterday’s fresh multi-year highs as investors are probably getting more cautious, indicating no rush to price in a steeper path of Fed rate tightening in the coming months, in spite of higher than expected US inflation data for January. With respect to global equity markets, risk appetite continued to recover with the VIX volatility index moving below 20. In FX markets, the USD extended recent losses with the DXY index dropping to three-year lows earlier today weighed down by lingering US structural woes and the perceived erosion of its yield advantage.

GREECE: According to the meeting agenda, the 19 February Eurogroup will discuss, among others, the implementation of the remaining prior actions under the 3rd programme review, which constitutes a precondition for the disbursement of the next loan sub-tranche of EUR5.7 billion. The deadline for the submission of binding offers for the acquisition of 66% of the Hellenic Gas Transmission System Operator S.A. (DESFA) expires today. According to the Hellenic Statistical Authority (ELSTAT), inflation returned into negative territory in January 2018 after 13 months of expansion with the Consumer Price Index dropping by 0.2%YoY. Fitch is scheduled to release its updated review on the Greek sovereign today.

SOUTH EASTERN EUROPE

CESEE MARKETS: Εmerging market assets extended further this week’s recovery in morning European trade on Friday amid improved risk appetite and a weaker USD.

Daily Overview February 16 2018

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