Bulgaria

Daily Overview of Global Markets & the SEE Region (Friday, October 19, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: German government bonds were firmer in early European trade on Friday and the EUR/USD came under renewed pressure amid mounting worries over a possible rise in tensions between the Italian government and the EU Commission. In the first formal step of a procedure that could lead to the EU Commission rejecting Italy’s 2019 draft budget and strengthening sanctions in the form of a 0.2% of GDP fine, the EU Commission sent a letter to...

http://www.allaboutshipping.co.uk/2018/10/19/daily-overview-of-global-markets-the-see-region-friday-october-19-2018/

Daily Overview of Global Markets & the SEE Region (Monday, October 15, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The Christian Social Union (CSU), the sister party of Chancellor Angela Merkel’s Christian Democratic Union (CDU) in Bavaria, suffered big losses in the elections of that state on Sunday 14 October. CSU defeat does not bode well with the CDU’s performance in the Hessian state election on 28 October and, according to some reports, a poor result could potentially lead Angela Merkel to reconsider staying in office as CDU leader and as...

http://www.allaboutshipping.co.uk/2018/10/15/daily-overview-of-global-markets-the-see-region-monday-october-15-2018/

Daily Overview of Global Markets & the SEE Region (Thursday, October 11, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Focus today is on global equity markets’ performance after Wall Street’s sharp losses overnight fueled by a sharp drop in technology stocks, led to a generalised risk-off sentiment. Favoured by equity markets’ sell-off, core government bond markets gained with yields down across the curve. In FX markets, the USD was weaker across the board weighed down by US stock market’s lacklustre performance overnight. In the meantime, the CHF...

http://www.allaboutshipping.co.uk/2018/10/11/daily-overview-of-global-markets-the-see-region-thursday-october-11-2018/

Daily Overview of Global Markets & the SEE Region (Wednesday, October 10, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Italian government bonds remained under pressure early yesterday but market sentiment improved somewhat around lunchtime following Economy Minister Giovanni Tria’s pledge that he will do whatever is necessary to restore calm if market turbulence turns into a financial crisis. However, a number of risks lie ahead. In FX markets, the GBP was firmer across the board on press reports conveying that the EU and the UK have narrowed their...

http://www.allaboutshipping.co.uk/2018/10/10/daily-overview-of-global-markets-the-see-region-wednesday-october-10-2018/

Daily Overview of Global Markets & the SEE Region (Monday, October 8, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: In a letter sent to the Italian government late on Friday in response to the release of the Update to the Economic and Financial Document 2018 published one day before, the European Commission expressed concern that the budget deficit targets for 2019-2021 appear to point to a significant deviation from the EU fiscal rules. In other news, 10-yr US yields rose to a fresh seven-year high close to 3.25% on Friday in reaction to non-farm...

http://www.allaboutshipping.co.uk/2018/10/08/daily-overview-of-global-markets-the-see-region-monday-october-8-2018/

Daily Overview of Global Markets & the SEE Region (Wednesday, October 3, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: According to Italian press reports, following budget talks late yesterday between Prime Minister Guiseppe Conte, the two Deputy Prime Ministers, Luigi Di Maio and Matteo Salvini, and Finance Minister Giovanni Tria, the government might decide to lower the budget deficit target for 2020 and 2021 to 2.2% of GDP and 2.0% of GDP, respectively, compared to the initial announcement of a 2.4% of GDP deficit target for each year. In reaction...

http://www.allaboutshipping.co.uk/2018/10/03/daily-overview-of-global-markets-the-see-region-wednesday-october-3-2018/

Daily Overview of Global Markets & the SEE Region (Tuesday, October 2, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Market concerns about escalating tensions between the Italian government and the EU are mounting. 10-yr Italian government bond yields rose further in early European trade on Tuesday hitting a 4½  year high of 3.44% while the EUR remained under pressure marking an intraday low of 1.1523 against the USD earlier today, the lowest since 21 August. No major data releases are due for release today with market focus turning to a speech by...

http://www.allaboutshipping.co.uk/2018/10/02/daily-overview-of-global-markets-the-see-region-tuesday-october-2-2018/

Daily Overview of Global Markets & the SEE Region (Monday, October 1, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Market concerns about Italy’s public finances stability prevail. Against this background, investors continued to demand a higher credit risk premium on Italian government bonds while the EUR/USD was hovering in early European trade within distance from Friday’s two-week intraday low of 1.1566. Elsewhere, the CAD was among the main outperformers in FX markets on news that Canada was to join the US and Mexico to form a revised NAFTA...

http://www.allaboutshipping.co.uk/2018/10/01/daily-overview-of-global-markets-the-see-region-monday-october-1-2018/

Daily Overview of Global Markets & the SEE Region (Friday, September 28, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The Italian government issued a statement yesterday to announce that the new budget deficit target for 2019 has been set at the upper range of market expectations at 2.4%-of-GDP. Tensions with the European Commission are likely to escalate and major rating agencies may downgrade Italy’s sovereign credit. Not surprisingly, market reaction was negative. The EUR/USD dropped to a two week low of 1.1614 earlier today and Italy’s 10-yr...

http://www.allaboutshipping.co.uk/2018/09/28/daily-overview-of-global-markets-the-see-region-friday-september-28-2018/

Daily Overview of Global Markets & the SEE Region (Monday, September 24, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Developments over the last few sessions have increased worries over a hard Brexit scenario. EU leaders rejected the “Chequers plan” at last week’s summit while UK PM Theresa May acknowledged that Brexit talks have hit “an impasse”. In reaction to the above, the GBP came under pressure while the USD was firmer across the board favored by intensified trade woes on news that China cancelled trade talks with the US that were scheduled to...

http://www.allaboutshipping.co.uk/2018/09/24/daily-overview-of-global-markets-the-see-region-monday-september-24-2018/

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