Home Banking Daily Overview of Global Markets & the SEE Region (Wednesday, May 23, 2018)

Daily Overview of Global Markets & the SEE Region (Wednesday, May 23, 2018)

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GLOBAL MARKETS: Prompting a renewed bout of risk aversion, US President Donald Trump questioned a potential trade deal with China saying explicitly that he is not satisfied with how trade talks have gone so far.  Reduced risk appetite favored the safe-haven appeal of core government bonds while the CHF and the JPY were the main outperformers in FX markets. Focus today is on EMU preliminary PMIs for May for an update on the euro area’s growth outlook.

GREECE: According to the meeting agenda, the institutions and the Greek Finance Minister, Euclid Tsakalotos, will inform the Eurogroup tomorrow (24 May) about the status of the ongoing 4th programme review and the staff-level agreement concluded by the institutions and the Greek authorities on 19 May. The Eurogroup will also continue its discussions on debt strategy. According to the Bank of Greece, in January – March 2018 travel receipts increased by 13.9%YoY and inbound traveler flows increased by 12.8%YoY. According to ELSTAT, the overall turnover index in industry in March 2018 recorded an increase of 3.4%YoY.

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