HIGHLIGHTS
May 9 2023
Global Markets
The Fed’s Q1 2023 Senior Loan Officer Survey showed further tightening in lending standards and weaker demand for loans but did not come as a surprise to market participants as it was in line with Powell’s rhetoric at the latest press conference and the recent Beige Book report. USTs remained under moderate pressure, while Brent crude oil prices moved further above last week’s lows.
Greece
Merchandise exports (non-seasonally adjusted in current prices) slowed down in Mar-23, recording a growth rate of 5.7% YoY (+€260.5mn), from 20.5% YoY in Feb-23. In the same month, merchandise imports (non-seasonally adjusted in current prices) increased by 4.1% YoY (+€293.8mn), from a decrease of 4.4% YoY in Feb-23.
CESEE
In Turkey, the implications of the February earthquakes on public finances seem to have moderated in March, with budget deficit significantly below the previous month (-74.7%) and March 2022 levels (-44.9%)΄.
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