Home Banking Daily Overview of Global Markets & the SEE Region (Thursday, December 21, 2017)

Daily Overview of Global Markets & the SEE Region (Thursday, December 21, 2017)

by admin

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: As expected, late yesterday the US House of Representatives formally passed the compromise tax bill which envisions $1.5trn in total tax cuts over the 2018-2017 budgetary time frame. President Donald Trump reportedly plans to sign it into law on January 3. Amid expectations that the US tax overhaul will lead to an increase in the US deficit, US Treasury yields continued to move higher across the curve. Turning to FX markets, the US failed to capitalize on the final approval of the tax bill amid market concerns over whether the tax reform will have a significant positive impact on the US economy. Elsewhere, the JPY weakened soon after the conclusion of the BoJ monetary policy meeting. Focus today is on regional election in Catalonia which, according to a number of recent opinion polls, could likely lead to a hung parliament. Polling stations opened at 9am local time while final results are expected to be out by midnight.

SOUTH EASTERN EUROPE

CESEE MARKETS: Emerging market assets traded mixed in early European trade on Thursday ahead of the Christmas holidays.

Viewers can log herebelow and read the full report: Daily Overview December 21 2017

You may also like

Leave a Comment