HIGHLIGHTS
May 18 2023
Global Markets
Risk-on sentiment prevailed, while USTs remained under pressure amid increased optimism that a debt ceiling resolution could be reached in the near-term. Meanwhile, the USD retained a firm tone, as investors continue to scale back Fed rate easing expectations and even start talking about the possibility of additional Fed rate tightening this year.
Greece
According to ELSTAT, the aggregate turnover of the economy (sales in current prices) amounted to €97.6bn in Q1 2023, compared to €90.1bn in Q1 2022, registering an annual increase of 8.3% (€7.5bn). In the same quarter, the average annual inflation rate decelerated to 6.4%, from 8.6% in Q4 2022. Hence, the aggregate turnover of the economy in real terms increased on an annual basis by 1.9% in Q1 2023.
CESEE
Mixed signs from market trends in Turkey a few days after last Sunday’s presidential elections, as the Turkish lira keeps sliding against the USD, but the BIST100 index continues to gradually recover Monday’s sharp losses.
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