HIGHLIGHTS
May 22 2023
Global Markets
USTs kicked off the week on a positive tone, with yields retreating from recent highs, on market uncertainty over a timely debt ceiling resolution, while the DXY index moved lower, though still remaining above 103.
Greece
The general elections for the 300-seat parliament in Greece were completed yesterday. ND won the election with a majority of 40.79% but is still five seats short of a majority due to the proportional representation electoral system. A second round of elections is expected to take place in late June or early July 2023. The main opposition’s (SYRIZA) result was at ca 20%. 5 parties (from 6 previously) qualified for the parliament.
CESEE
In Cyprus, fresh data concerning the tourism sector reaffirm its vital role for exports and economic activity also in 2023, as tourist arrivals continued to increase strongly in April, by 18.5%YoY, but more importantly relative to 2019 (+4.1%).
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