Market Insights

Market Information Friday 26 April 2024

Both the US stock markets and global markets experienced sharp declines on Thursday, accompanied by rising bond yields. This followed after publication of growth figures for the US economy. In the first quarter growth came in lower than expected, registering only 1.6 percent. By contrast, in the fourth quarter, growth stood at 3.4 percent. Furthermore, consumer prices surged by 3.4 percent in the first quarter, marking a substantial increase from the 1.8 percent rise seen in the previous quarter. Core prices also saw an uptick, rising by 3.7 percent compared to the 2.0 percent observed in the final quarter of 2023.

Consumer confidence in Germany improved for May, according to data from research firm GfK. The confidence index rose from -27.3 in March to -24.2 for May. This exceeded economists’ expectations, who had predicted the index to reach -26.0.

The Turkish central bank announced Thursday afternoon that it will keep the interest rate unchanged. This follows an earlier interest rate hike in March when the rate was raised from 45.00 to 50.00 percent. In March, the central bank observed higher underlying inflation than expected, with a price increase of 68.5 percent on an annual basis and 3.2 percent on a monthly basis. In the medium term, the central bank of the country aims for an inflation rate of 5.00 percent.

The 6M Euribor decreased with 1 basis point to 3.83% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.92% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.


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