WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The USD was modestly weaker and US Treasuries gained some ground in European trade, in reaction to the lack of details in the US administration’s tax reform plan. Focus today is on the ECB Governing Council meeting where the Central Bank is widely expected to stay put on its monetary policy and maintain its forward guidance on interest rates while President Mario Draghi is unlikely to materially change his rhetoric tone at the post-meeting post conference.
GREECE: Informing the European Parliament today on the state of play in the negotiations of Greece with the official lenders in the context of the 2nd programme review, Eurogroup President Jeroen Dijsselbloem acknowledged that a lot has been accomplished during the first half of the current programme and that an agreement on the whole package pertaining to the 2nd review will be reached very soon. With regard to the ESM Eurogroup President stated that it should be developed into a European Monetary Fund in order to further strengthen the European Monetary Union. In other news, the bill for the out-of-court workout is expected to be voted by the Hellenic Parliament tomorrow.
Viewers can log herebelow and read the full report: Daily Overview April 27 2017