The data announced today on the rise in GDP in the US created a climate of optimism among investors, about the size of the recession.
Eurozone bond yields are falling today, while the Greek 10-year bond was at 4.21%.
In particular, GDP in the fourth quarter of 2022 increased more (2.9%) compared to analysts’ forecasts (2.5%).
This development, according to analysts’ estimates, is very likely to put a “premature brake” on the increase in interest rates by the Fed.
However, on the other side of the Atlantic, markets seem to be discounting that next week the European Central Bank (ECB) will raise interest rates by 0.5%. It is indicative that an analysis by ING points out that it is considered premature to place 2024 as the year when the ECB will start reducing its interest rates.
57 million euros worth of transactions were recorded in HDAT today. of which 20 million euros related to purchase orders.
The yield on the Greek 10-year bond stood at 4.21% from 4.30% versus 2.18% for the corresponding German bond, bringing the spread to 2.03% from 2.1% yesterday.
In the foreign exchange market, the euro is moving higher and lower against the dollar today, as the European currency was traded in the early afternoon at $1.0883 from the level of $1.091 that opened the market.
The indicative euro/dollar exchange rate announced by the European Central Bank stood at $1.0895.
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