Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Market concerns about the sustainability of the global economic recovery prevail, pushing the majority of Asian equity markets lower on Monday and assisting US Treasures and German Bunds retain a firm tone in European trade.
GREECE: After a three-day long debate, the Greek coalition government of centre-right New Democracy and socialist PASOK won late on Friday a vote of confidence in the 300-seat Hellenic Parliament with an absolute of majority of the 288 attending MPs./ On the sidelines of the IMF/World Bank Annual Meeting in Washington D.C, IMF Managing Director Christine Lagarde met with Greece’s Minister of Finance Gikas Hardouvelis, Government of the Bank of Greece Yiannis Stournaras and their colleagues –as indicated in the Fund’s official press release- “to discuss progress under the program and possible next steps”.
SOUTH EASTERN EUROPE
SERBIA: FX reserves stood at EUR 10.9bn at end of September, EUR 70m lower from the previous month.
ROMANIA: A primary market auction for RON 200mn in 2Y bonds (Aug 2016) is scheduled to take place later in the day where expectations are for an average accepted yield of 2.53%-2.58%.
BULGARIA: According to preliminary data, Bulgaria’s foreign trade deficit widened by BGN 563.3mn YoY in August to BGN 524.6mn.
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Dailyoverview October 13, 2014
