WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In FX markets, GBP retained a firm tone in European trade on Wednesday supported by British PM Theresa May’s unexpected call for a snap general election on June 8 seeking a stronger mandate for the ruling Conservative Party ahead of the upcoming Brexit negotiations. Elsewhere, prevailing geopolitical jitters continued to support top rated sovereign bonds. Looking at the day ahead, the Fed is scheduled to release the latest Beige Book and Boston Fed President Eric Rosengren will speak about the US economy.
GREECE: The IMF, on its World Economic Outlook report presented yesterday, lowered its 2017 and 2018 real GDP forecast for Greece to 2.2% and 2.7% from 2.8% and 3.1% in October 2016
SOUTH EASTERN EUROPE
CESEE MARKETS: CESEE assets were mixed earlier on Wednesday, with the majority of main stock indices and government bonds moving higher, while most regional currencies stood on the back foot. In FX markets, the Turkish lira posed among the region’s main underperformers, trimming part of its recent post-referendum gains.
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