EUR review

The Euro gave up some of its gains from earlier in the week as German Bund yields traded in a steady range with a slightly downward bias. ECB President Draghi did his bit for the weak tone in the Euro overnight as he stated that the ECB will implement in full its bond-buying program and it will stay in place as long as needed. This also sent European stocks higher which had been beaten down due to the turbulence in the bond markets. 

The never ending Greek-EU talks on reforms continued to be in focus and the Syriza government seemed to conceded to the demand of the "Troika" as it tried to move ahead with the privatization of its largest port, Piraeus. 

As soon as it had assumed power in Jan, the Greek government had tried to move back on this privatization which was agreed as part of the bailout funding deal. This has already ruffled feathers in Greece as the Syriza party is seen as rolling back its pre-election promises and we could witness political chaos in Greece in the coming months.