WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Major European equity markets were modestly firmer in early trade on Tuesday, US Treasury yields edged lower and the DXY index was little changed amid prevailing market uncertainty over whether the Fed is poised to hike interest rates as soon as next month in spite of hawkish comments by Fed Chair Janet Yellen and Vice Chair Stanley Fischer at the Jackson Hole late last week. All eyes are on the US non-farm payrolls report for August scheduled for release later this week (Friday, September 2) which may have a crucial impact on the Fed’s deliberations for a rate hike as soon as next month.
GREECE: The Hellenic Statistical Authority published yesterday the revised quarterly national accounts for Q2 2016 (provisional data) which showed a small downward revision in seasonally adjusted real GDP to +0.2%/-0.9% QoQ/YoY relative to the previously reported +0.3%/-0.7% QoQ/YoY (flash estimate). The Euroworking Group that took place yesterday discussed the remaining actions for the disbursement of the €2.8bn sub-tranche and urged the Greek government to proceed swiftly with their completion.
SOUTH EASTERN EUROPE
CESEE MARKETS: Trailing the uptrend in global bourses, emerging stock markets moved broadly higher earlier on Tuesday. In FX markets, most regional currencies treaded water earlier today.
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