Dr. Platon Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Taking their lead from the positive tone in Wall Street overnight, the majority of Asian bourses firmed on Wednesday supported by upbeat euro area data and solid US Q4 earning results. In FX markets, the USD gained some ground following Fed hawkish comments ahead of the minutes from the January FOMC monetary policy meeting due for release later in the day. Meanwhile the EUR remained under pressure amid mounting euro area political jitters. German Bunds were firmer with the 2-yr yield falling to a fresh all-time trough of -0.887%. France’s 10-yr yield spread to Germany widened further.
GREECE: With regard to the Greece’s 3rd Economic Adjustment Programme, on the back of the positive outcome of the latest Eurogroup, the German Chancellor Angela Merkel and the IMF Managing Director Christine Lagarde are meeting today in Berlin and may reportedly discuss among others the participation of the Fund in Greece’s programme. The ESM Managing Director Klaus Regling stated in an interview that Greece will probably be able to borrow money from wholesale markets from the middle of 2018 and if the next 18 months are put to good use by Greece another bailout programme will probably not be needed.
SOUTH EASTERN EUROPE
ROMANIA: The lower house of the parliament endorsed yesterday with an overwhelming majority the law to repeal a government-backed emergency decree that was deemed an attempt to decriminalize low level corruption offences.
Viewers can log herebelow and read the dull report: Daily Overview February 22 2017
