GLOBAL & REGIONAL DAILY (Wednesday 6 December 2023)

HIGHLIGHTS

December 6 2023                                                                                                                                                                                 

Global Markets

Lower-than-expected JOLTS data and dovish comments by the ECB’s Isabel Schnabel enabled the recent rally in sovereign bonds to continue its momentum. Meanwhile, German factory orders unexpectedly fell 3.7%MoM in October.

Greece                                                                                                                                                                                    Interest rates on new loans and deposits were up in Oct-23; the spread between weighted average interest rates on new loans and new time deposits among the lowest in the past 18 months.

CESEE

According to the Q3 GDP component data for Cyprus, the main driver of the 2.2%YoY growth was the increase in gross capital formation, mainly based on inventories accumulation, and on a stronger rise in household consumption. In Hungary, high frequency indicators show a softened weakening in economic activity in early Q3. 

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