HIGHLIGHTS
September 19 2022
Global Markets
All eyes this week are on the two-day FOMC policy meeting which concludes on Wednesday, with investors pricing-in fully a 75bps rate hike. Turning to markets, risk-off sentiment prevailed, UST yields were a tad lower on the day but within distance from Friday’s fresh multi-year highs, and the EUR/USD moved back below parity.
Greece
According to the preliminary State Budget execution data, for the period Jan-Aug 2022 the overall fiscal balance registered a deficit of €4.11 bn, compared to a targeted deficit of €-9.99 bn, (-58.8%). The primary fiscal balance registered a surplus of €0.01 bn, against a targeted deficit of €5.94 bn (-100.17%).
CESEE
In Bulgaria, two successful placements through Eurobond issues of 7-year EUR1.5bn and 12-year EUR0.75bn; in Serbia, the EUR/RSD pair continued to test the 117.30 support level following the Central Bank’s intervention in the FX market.
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