WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Risk-off sentiment spread across financial markets on Wednesday on renewed concerns over the potential impact of UK’s vote to leave the EU on the world economy. Brexit jitters and heightening worries over financial contagion boosted demand for major government bonds. In FX markets, the GBP came under renewed pressure across the board. Today’s calendar includes the FOMC minutes and speeches by New York Fed President Dudley and FOMC Governor Tarullo.
GREECE: With regard to the 2nd programme review, which is scheduled to commence at the beginning of October, the Greek Finance Minister stated in an interview that he expects it to be difficult but less so than the previous one. He also argued that the Greek government will work towards a swift completion of that review as it wants to promote stability in the country.
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