Daily Overview of Global Markets & the SEE Region (Tuesday, February 20, 2018)

Banking, Finance, Markets, News, Reports, Shipfinance, Statistics, Stock Markets — By on February 20, 2018 at 11:19 AM

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: US Treasuries were weaker in early European trade on Tuesday and the 2/10-yr yield curve flattened, in line with the recent equity market recovery.  In FX markets, the USD was firmer supported by higher US Treasury yields. Looking at the remainder of the week, market focus is on the FOMC minutes from the January monetary policy meeting due for release on Wednesday. Atlanta Fed President Bostic is scheduled to speak on Thursday and San Francisco Fed President John Williams who is reportedly under consideration by the White House for the post of Vice Chair of the Federal Reserve Board, will speak on the US economic outlook on Friday.

GREECE: The Eurogroup that convened yesterday verified that Greece has acted on all prior actions and exhibits strong ownership of the programme. Nevertheless, out of the 110 prior actions 2, which are outside of the government’s controls, are still pending. On 16 February Fitch upgraded Greece’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘B’ from ‘B-’ with outlook positive. According to the Hellenic Statistical Authority (ELSTAT), the turnover index in industry in December 2017 decreased by 2.6%YoY against an increase of 14.7%YoY, which was the corresponding change in December 2016.

SOUTH EASTERN EUROPE

BULGARIA: The Bulgarian equity and Eurobond markets ended little changed on a weekly basis last week, while local-currency bond yields followed the global trend upwards.

SERBIA: Downside pressures on the EUR/RSD continued over the last few days due to oversupply of euros amid strong demand for dinar-denominated bonds this month.

Viewers can log herebelow and read the full report: Daily Overview February 20 2018

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