Dr. Platon Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Global equity markets and core government bonds were firmer while USD was under pressure across the board in European trade on Thursday reacting to the tone of Fed Chair Janet Yellen at her semi-annual testimony to the House Finance Committee on Wednesday that was perceived as more dovish than expected. The Fed Chair will deliver the second leg of her testimony before the Senate Banking Committee today while on the data front, of greater importance will be the US June PPI report and US initial jobless claims for the week ended July 8.
GREECE: The European Commission recommended yesterday to the Council to close the Excessive Deficit Procedure (EDP) for Greece following the progress that Greece has made in consolidating its public finances and implementing the ESM programme. In particular, the general government balance has improved from a deficit of 15.1% of GDP in 2009 to a surplus of 0.7% of GDP in 2016, well below the 3% threshold of the Treaty on the Functioning of the European Union.
Viewers can log herebelow and read the full report: Daily Overview July 13 2017
