WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: US non-farm payrolls for the month of September surprised positively, supporting the view that the US labor market has improved significantly in recent months and the Fed will probably embark on a monetary policy tightening cycle sooner rather than later.
GREECE: According to the draft 2015 budget that was submitted to Parliament earlier today, the general government primary balance is projected to record a surplus of 2.9%-of-GDP, a tad lower compared to the official target of 3.0%-of-GDP. Furthermore, the draft budget revealed that the Greek government intends to tap wholesale funding markets with the issuance of a 7-year and 10-year bond as well as Treasury bill of over 26 weeks.
SOUTH EASTERN EUROPE
ROMANIA: the MoF holds on Monday an auction for RON 300mn of 3Y (Jun 2017) bonds, expected to produce a yield around 2.95-3.00%, in line with secondary market levels.
BULGARIA: With 97 percent of votes having been counted, centre-right GERB party won Sunday’s snap general election with a score of 32.6%.
CESEE MARKETS: Taking their cue from gains in major global bourses, emerging stock markets firmed in European trade on Monday. Elsewhere, CESEE currencies broadly firmed, recouping part of losses incurred in the prior session.
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