Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Major European equity markets were weaker in early trade on Tuesday pressured by a renewed drop in oil prices amid market doubts whether OPEC and non-OPEC members will agree at their April 17th meeting to freeze their oil output. Equity markets’ lackluster performance favored the safe-haven appeal of major government bonds while, in FX markets, the USD remained under pressure against most of its major currency peers on the view that the Fed will not rush to push interest rates higher.
GREECE: The first meeting in a new round of official talks between the Greek government and the ECB/IMF/EC/ESM mission heads on the 1st programme review took place yesterday. Speaking to reporters soon after the conclusion of the meeting, Greece’s Minister of Finance Euclid Tsakalotos said that the two sides held “an introductory talk” setting the schedule of discussions until next Monday, April 11th and a roadmap until the April 22nd Eurogroup.
SOUTH EASTERN EUROPE
ROMANIA: The Ministry of Finance sold RON 1bn in 1Y T-bills at an average yield of 0.66%
BULGARIA: Unemployment declined to 7.4% in February down from 9.8% a year ago.
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