Daily Overview of Global Markets & the SEE Region (Thursday, August 2, 2018)

Banking, Finance, Markets, Reports, Shipfinance, Statistics, Stock Markets — By on August 2, 2018 at 10:12 AM



GLOBAL MARKETS: In line with market expectations, the Fed maintained the target range for the fed funds unchanged at 1.75-2.00% at its August meeting. The FOMC upgraded its view of economic growth since June, noting that “economic activity has been rising at a strong rate”, as opposed to the June characterization of “solid” growth. Global bond markets were hit from the BoJ’s decision to double the range allowed for its benchmark under its yield-curve control policy on Tuesday. In the US, the 10-yr Treasury yield rose above 3.00% y-day for the first time since mid-June, as the US Treasury refunding announcement put further upward pressure on yields. In response to the Fed’s upbeat assessment of the US economy, the US dollar firmed against a basket of its currency peers but remained under pressure against the yen as the Japanese currency capitalized on higher Japanese government bond yields.

GREECE: German lawmakers approved y-day the disbursement of the final installment of €15.0bn from the financial envelope of the Third Economic Adjustment Programme. The actual disbursement will take place in the following days well ahead of the official end of the programme in August 20 2018.


SERBIA: According to the flash estimate, real GDP expanded by 4.4% YoY in Q2-2018 bringing the 1H performance at 4.5% YoY.

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