WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Major European bourses were standing in positive territory in early trade on Thursday supported by higher oil prices on the back of renewed supply jitters. In FX markets, the JPY moved higher on short-covering ahead of potential event risks including the two-day G7 Summit that commences today and a speech by FOMC Chairperson Janet Yellen on June 6. Looking at today’s calendar, focus is on US initial jobless claims and durable goods orders while Fed’s James Bullard and Jerome Powell are scheduled to speak.
GREECE: Following the conclusion of Greece’s 1st programme review, the ECB is reportedly likely to include GGBs in its monthly purchases of assets under the QE programme as of July. In other news, the Asset Development Plan was published in the State Gazette yesterday following approval by the relevant domestic authorities, one of the pending items for the release of the next loan tranche to Greece.
SOUTH EASTERN EUROPE
SERBIA: The average gross salaries and wages paid in Serbia in April 2016 amounted to RSD 67, 464 (~€548.76). This marks a 6.6%MoM increase in real terms and an annual rise of 7.5%. In other news, the Ministry of Finance sold on Wednesday almost €120mn of 10-year EUR-denominated government bonds at an average accepted yield of 4.2%.
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