Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
SOUTH EASTERN EUROPE
SERBIA: Serbia sold on Tuesday €40mn worth of 3Y EUR Bonds at a yield of 4.8%.
ROMANIA: Short term RON rates spike above the 3.25% key monetary policy rate in the start of the new reserve period.
BULGARIA: Gross external debt increases for the fifth month running on an annual basis to ca 94.4%-of-GDP in July.
CESEE MARKETS: The majority of emerging stock markets moved broadly higher in European trade on Wednesday, with Chinese equities leading the gains. In the FX markets, CESEE currencies were mixed, with the Ukrainian hryvnia broadly outperforming its regional peers. In the local rate markets, government bonds extended their recent gains in European trade on Wednesday, with Polish paper leading the winners’ pack.
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