HIGHLIGHTS
June 9 2023
Global Markets
Amid increased expectations that the Fed will likely skip rate hikes at the June 14 policy meeting following a much higher than expected increase in US initial jobless claims, Asian bourses ended higher, while the USD broadly weakened, especially against the CHF, following comments from SNB President Jordan stressing that further rate hikes are necessary to bring down inflation.
Greece
Trade deficit in Jan–Apr period this year shrinks by 20.7%YoY, largely driven by a sharp drop in petroleum product imports; Fitch Ratings to publish its sovereign debt rating review later today.
CESEE
Despite the impasse hit recently during the efforts for a coalition government to be formed in Bulgaria, fruits were born, and a new regular government has been finally formed by the two winning collation parties, WCC-DB and GERB; the National Bank of Serbia caught markets off guard yesterday with its decision to hike the Key Policy Rate by 25bps to 6.25% after holding fire in May’s MPC.
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