The KEPE GRIV index, or so-called “Fear” index, decreased in Greece last month, July 2023, easing 23.45 percent from 29.81 percent a month earlier, the Athens-based Centre of Planning and Economic Research (KEPE) annnounced in a report on Monday.
The KEPE GRIV Index is an implied volatility index and is calculated on the basis of the prices of FTSE/ATHEX Large Cap Index options, based on the official new methodology applied by the Chicago Board Options Exchange (CBOE).
Additionally, the average daily value of the index decreased, down to 26.27 percent in July 2023, compared to 29.41 percent the previous month, June 2023. The index remained below a historical average level (since January 2004) for the Greek market, at 32.44 percent.
According to KEPE, the “respective development is an extension of the overall rising course of the CLI from 2020 onwards. On these grounds, it is assumed to reflect the enhancement of positive expectations and assessments by agents involved in economic activity, offering leading indications for an improvement of economic conditions.
“At the same time, it indicates that developments in inflation and interest rates are not having an adverse impact. In any case, it remains necessary to re-estimate the CLI, with the aim to acquire additional evidence, since the inclusion of new data is expected to demonstrate the continuation or interruption of the observed trends regarding the course of future domestic economic activity.”
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