Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Investors retained a cautious tone in European trade earlier today ahead of the release of the key US non-farm payrolls report for the month of January. Consensus is for a hefty increase of 230K in the headline, above 200k for the 12th month in a row
GREECE: Speaking to reporters late y-day after his meeting with Greece’s Vice- President Yannis Dragasakis, Bank of Greece Governor Yiannis Stournaras reassured that “bank deposits and liquidity are absolutely safe” adding that the ECB decision to lift the waver of minimum credit-rating requirements for marketable instruments issued or guaranteed by the Hellenic Republic, could be reversed if there is a “new agreement” between Greece and its EU partners. In other news, an extraordinary Eurogroup will reportedly take place on February 11, on the eve of the next EU Summit, where euro area finance ministers are expected to discuss solely on the Greek situation.
SOUTH EASTERN EUROPE
SERBIA: The Public Debt Administration sold on Thursday, just RSD 1.35bn of the RSD 3bn offered in 3-month local currency T-Bills.
CESEE MARKETS: Emerging stock markets were mixed earlier today amid market caution prevailing ahead of a key labour data release from the US later in the session. On the flipside, the majority of CEE currencies firmed earlier today on bargain hunting.
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Dailyoverview February 6, 2015
