WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of Asian equity indices edged higher on Thursday and most European equity bourses opened in the black with higher copper prices offering a boost to mining stocks, ahead of today’s UK referendum where the British will vote on whether the country will remain a member of the EU. In FX markets, the Sterling surged earlier today after the latest opinion polls favored the Remain camp. The UK referendum takes centre stage today, with the voting closing at 23:00 CET and final results due tomorrow by 8:00 CET. The data calendar today includes the US jobless claims and new home sales for May.
GREECE: The European Central Bank (ECB) Governing Council decided yesterday to reinstate the waiver and thus render eligible as collateral the marketable debt instruments issued or fully guaranteed by the Hellenic Republic. With regard to the purchase of Greek government bonds under the Public Sector Purchase Programme (PSPP), the ECB Governing Council will examine it at a later stage subject to Greek debt sustainability analysis and other risk management considerations.
SOUTH EASTERN EUROPE
SERBIA: The Public Debt Administration accepted all bids for 3-year EUR-denominated bonds at an auction on Wednesday, raising a total amount of €51.36mn.
CESEE MARKETS: Most CESEE assets were treading water earlier on Thursday, with investor caution prevailing as the UK referendum on the country’s EU membership is currently underway.
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