Home Banking Daily Overview of Global Markets & the SEE Region (Wednesday, July 05, 2017)

Daily Overview of Global Markets & the SEE Region (Wednesday, July 05, 2017)

by admin

Dr. Platon Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,



GLOBAL MARKETS: Market interest today will centre on the release of the FOMC minutes from the June 14th monetary policy meeting where the committee raised the Federal Funds rate by another 25bps to a 1.00-1.25%. Focus will be on likely indications of the sequencing of the next steps as investors are looking for further detail on the timing of the next rate hike and the beginning of balance-sheet normalization. US Treasuries were little changed compared to Monday’s settlement while German Bunds remained in an upward trend with the 10-yr Bund yield approaching year-to-date highs amid increased expectations that the Central Bank is likely to start moving away from its ultra-easy monetary policy earlier than anticipated.

GREECE: The Board of Governors of the European Stability Mechanism convened earlier today and approved the Supplemental Memorandum of Understanding (SMoU) with Greece following the conclusion of the 2nd programme review and the June 15 Eurogroup agreement. However, it was reportedly pointed out that there are still some outstanding issues that need to be resolved for the €8.5 billion loan tranche to be approved and the ESM Board of Directors will discuss this via teleconference on Friday, 7 July. According to the Ministry of Finance, total General Government arrears (including tax arrears of €1.21 bn) at the end of May 2017 stood at €5.05 bn from €4.96 bn in the previous month.


ROMANIA: Retail sales expanded strongly by +4.4% MoM/+12.3% YoY in May, the highest monthly rate in the last four years.

Viewers can log herebelow and read the full report:

Daily Overview July 5 2017

You may also like

Leave a Comment