Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The 435-seat US House of Representatives approved its tax draft plan late on Thursday with 227 Republican in favor votes. All Democrats and 13 Republicans voted against. Meanwhile, the Senate Finance Committee approved its version of the draft bill and a full Senate vote is expected after next week’s Thanksgiving holiday. However, there is still significant market uncertainty about the form of the ultimate tax reform bill. The USD failed to capitalize on the passage of the draft bill by the US House as well as a fresh string of positive US data, poised for weekly losses to the tune of 0.7% amid renewed political jitters. The 2-yr UST yield hit a fresh nine-year high while German Bunds retained a positive tone supported by lower oil prices and reduced euro area inflation expectations. Looking at today’s calendar, focus is on US housing starts and building permits for October while ECB President Mario Draghi and German Bundesbank head Jens Weidmann are scheduled to speak.
GREECE: According to Bank of Greece data, apartment prices in the real estate market decreased on an annual basis by -0.6% in 2017Q3 from -1.2% in 2017Q2 and -1.7% in 2017Q1. Since 2008Q3 the cumulative decline of apartment prices in Greece stands at -42.4% (negative wealth effect).
Viewers can log herebelow and read the full report: Daily Overview November 17 2017
