Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of European shares opened little changed on Friday after hitting two week highs in the prior session, as investors seemed reluctant to establish fresh sizable positions amid lingering worries over the global growth outlook. In FX, the JPY moved higher across the board as equity markets’ lackluster performance favored its safe-haven appeal. Looking at today’s US calendar, the January CPI report takes centre stage.
GREECE: Speaking before the European Parliament’s Economic and Monetary Affairs Committee on Thursday, Euro group President Jeroen Dijsselbloem stressed that, while politically difficult, it is of prime importance that the Greek government implements a number of agreed reforms, including the overhaul of the social security pension system. In other news, government sources were quoted saying that the climate in the EU Summit was positive with all European leaders recognizing the progress Greece has made in dealing with the refugee flows and particularly on the construction and operation of hotspots.
SOUTH EASTERN EUROPE
BULGARIA: The multi-party government cabinet of Prime Minister Borisov survived its first vote of no-confidence in the parliament earlier today.
ROMANIA: The Ministry of Finance sold at an auction on Thursday RON 500m of 1 Year T-bonds at an average accepted yield of 3.36%.
SERBIA: Τhe Ministry of Finance sold at an auction on Thursday RSD 31.5bn of 3 Year local currency T-bonds at an average accepted yield of 5.95%.-
Daily Overview February 19 2016
