WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of global equity markets opened higher on Wednesday and the USD recovered some ground on the back of somewhat reduced geopolitical concerns about North Korea’s firing earlier this week of a missile over Japan. Elsewhere US Treasury and German Bund yields were higher albeit still not far from Tuesday’s multi-month lows as geopolitical tensions and US political jitters continue to play a key role in market sentiment. Looking at the remainder of the day, market focus is on the second reading of US Q2 GDP and the August’s ADP employment report ahead of Friday’s non-farm payrolls report. Today’s macro diary also includes the flash August HICP readings from Germany and Spain.
GREECE: According to the Bank of Greece, in July 2017, the annual growth rate of credit extended to the private sector stood at -1.2% and the monthly net flow was negative at €435 million. The annual growth rate of private sector deposits increased to 4.3% while the monthly net flow was positive at €927 million. Six investment schemes have submitted expressions of interest for the acquisition of a 66% stake in the Hellenic Gas Transmission System Operator S.A. (DESFA) while on 4 September the Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) is to decide on the candidates who qualify for the next phase of the tender.
Viewers can log herebelow and read the full report:Daily Overview August 30 2017