Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The US 10yr Treasury yield moved modestly lower in early European trade on Monday following a recent string of stronger than expected US data and hawkish comments by Fed Chair Janet Yellen. In FX markets, the US dollar moved slightly lower. On the political front in Europe, former French prime minister Francois Fillon had the largest share of votes on Sunday in Paris in the first round of the centre-right primary elections, while Chancellor Angela Merkel of Germany announced that she will seek a fourth term as the country’s leader in the 2017 presidential election.
GREECE: Talks between Greek government officials and the institutions in the context of the 2nd programme review continued throughout the weekend without, however, succeeding in closing all open items. The labour market reform and the medium term fiscal strategy remain open while the 2017 Budget has reportedly been agreed and is expected to be submitted to Parliament later today. According to data released by the Hellenic Statistical Authority the disposable income of households and non-profit institutions serving households (NPISH) was reduced by 4.5% in 2015 compared to 2014, from 120.3 billion euro to 114.8 billion euro.
SOUTH EASTERN EUROPE
BULGARIA: Assets came under pressure last week on Prime Minister Borissov’s resignation
ROMANIA: Local markets mostly followed regional and global moves in the past week
SERBIA: The dinar remained relatively resilient against the Euro compared to other regional currencies in the past week.
Viewers can log herebelow and read the full report:Daily Overview November 21 2016
