WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS:. Oil weakness on Monday following news that major oil producers failed to reach an agreement on a plan to freeze global supply at a meeting on Sunday, proved short-lived and oil prices rebounded in European trade on Tuesday. Major sovereign bond yields moved higher while in FX markets commodity related currencies outperformed.
GREECE: The heads of the institutions (EC/ECB/ESM/IMF) are expected to resume discussions with Greek officials today in the context of the 1st programme review. Official lenders are requesting as a condition for the review to close a bundle of “precautionary measures” that will be activated in case the current measures do not produce the expected results. Greece opposes this proposal.
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