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PVM Midday Report 25 June 2015

Published Thursday, June 25th, 2015

  • The ECB approves emergency funding requested by Greece
  • IS attacks Syrian government and Kurdish militia simultaneously
  • Houthi shelling in Yemen kills four Saudi soldiers on the border
  • Greece wants to maintain tax break for its islands in new proposal

Economy

Oil eyes are on Greece obviously, where the latest deadline for a new and acceptable proposal will have passed by the time you read this update. The FTSEurofirst 300 index is down 0.5% whilst 10-year Bund yield dropped 1 basis point to 0.83%. Peripheral Europe bonds are down 2-3 basis points. Amidst the Greek turmoil it is worth noting that the immigrant crisis all over Europe is getting worse if anything.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.