Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Taking their cue from losses in Wall Street overnight, European stock markets moved broadly lower in morning trade on Tuesday, weighed further down by disappointing industrial production data from Germany, the Eurozone’s largest economy.
SOUTH EASTERN EUROPE
SERBIA: The dinar hit a new all-time low against the euro amid persisting fiscal consolidation concerns.
ROMANIA: Yesterday’s FinMin 3-year bond auction received strong demand, with the average accepted yield coming in at 2.92%, in slightly below market expectations.
BULGARIA: With 99% of the votes counted, eight parties pass the 4% threshold to enter Parliament but none achieved a majority in the 240-seat National Assembly; coalition negotiations are expected to start in the coming days.
CESEE MARKETS: CESEE stock and bond markets were mixed in European trade on Tuesday, while currencies were little changed with the Turkish lira regaining some further ground, after Friday’s sell-off.
“Jo”
