Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: US Treasuries retained a firm tone and the US currency remained under pressure amid market anxiety about the outcome of the November 8th US Presidential elections. With US politics taking the front seat, the outcome of the FOMC November 1-2 monetary policy meeting for unchanged interest rates failed to exert a significant market impact. Looking at the day ahead, focus is on the updated BoE Inflation Report and the BoE monetary policy meeting. Furthermore, the UK High Court is scheduled to announce its rule on whether the Government should require formal parliamentary approval to trigger Article 50.
GREECE: ELA-ceiling for Greek banks was reduced by €0.7 billion to €51.1 billion reflecting an improvement of the liquidity situation in Greece due to reduced uncertainty and stabilized private sector deposit flows. According to Bank of Greece provisional data, in H1 2016 nominal prime office prices for the country as a whole increased marginally by 0.2% compared with H2 2015 while nominal prime retail prices for the country as a whole decreased 0.8% compared with H2 2015.
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Daily Overview November 3 2016
