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Daily Overview of Global Markets & the SEE Region (Friday, October 5, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Market focus today is on the US non-farm payrolls report for September, and mostly, on average hourly earnings which are expected to rise by 0.2%mom pushing the annual growth rate to 2.8% from 2.9% in the prior month. Awaiting the key US report, US Treasury bond yields were lower today after US-China trade tensions flared up again following comments by US Vice President Mike Pence accusing China of trying to interfere in the midterm...

http://www.allaboutshipping.co.uk/2018/10/05/daily-overview-of-global-markets-the-see-region-friday-october-5-2018/

Daily Overview of Global Markets & the SEE Region (Thursday, October 4, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Fuelled by strong US macroeconomic data, the 10-yr UST yield rose to a seven-year high of 3.23% in Asian trade on Thursday, marking the steepest daily increase since the US presidential election in November 2016, in what could be considered an overreaction to the data as stop loss orders were triggered across the futures market. In FX markets, the US dollar firmed on robust US data releases and Fed Chair Powell’s optimistic view on...

http://www.allaboutshipping.co.uk/2018/10/04/daily-overview-of-global-markets-the-see-region-thursday-october-4-2018/

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 (Thursday, September 27, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: In line with market expectations, the Fed raised interest rates by 25bps at this week’s two-day monetary policy meeting which concluded late on Wednesday, taking the target range for the federal funds rate to 2.00%-2.25%. Changes to the post-meeting statement were minimal with one exception: the Committee removed the reference to the policy stance as “accommodative”. However, this has no implications for the Fed’s future rate...

http://www.allaboutshipping.co.uk/2018/09/27/daily-overview-of-global-markets-the-see-region-thursday-september-27-2018/

Daily Overview of Global Markets & the SEE Region (Tuesday, September 25, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Major European equity markets opened higher on Tuesday but gains were limited amid prevailing trade war concerns. Elsewhere, 10-yr Bund yields rose slightly above 0.54% today, the highest since 22 May after ECB President Mario Draghi conveyed a message of increased confidence at the Governing Council about reaching the inflation target. In FX markets, the USD was firmer on the day ahead of this week’s two-day FOMC policy meeting,...

http://www.allaboutshipping.co.uk/2018/09/25/daily-overview-of-global-markets-the-see-region-tuesday-september-25-2018/

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/

Daily Overview of Global Markets & the SEE Region (Friday, September 21, 2018)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Risk assets retained a positive tone in early trade on Friday supported by the prevailing market view that the direct impact of the US/China trade dispute on the world economy will likely be limited. In spite of global equity markets’ positive performance, USTs and German Bunds gained some ground today, partially supported by renewed Brexit jitters. In FX markets, the USD extended recent losses amid receding trade war concerns with...

http://www.allaboutshipping.co.uk/2018/09/21/daily-overview-of-global-markets-the-see-region-friday-september-21-2018/

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