WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The USD retained a firm tone and US Treasuries moved lower in European trade on Tuesday amid expectations that the Fed will likely raise interest rates near-term following a recent string of US encouraging data as well as more hawkish than expected comments by Chairperson Janet Yellen late last week. With several FOMC policy makers clearly inclined for higher interest rates in the next couple of months, market eyes are on upcoming US data including April’s personal income and spending later in the day ahead of the key US non-farm payrolls report on Friday (June 3).
GREECE: According to the provisional data published yesterday by ELSTAT real GDP growth contracted by – 1.4% YoY in Q1 2016 on the back of lower private consumption, gross fixed capital investments and exports.
SOUTH EASTERN EUROPE
CESEE MARKETS: Emerging stock markets resumed their uptrend earlier on Tuesday, with Chinese equity leading the way higher. In the CESEE region, most bourses stood in the black in European trade today, while currencies and government bonds were mixed.
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