Market Information Friday 16 February 2024

The confidence of American homebuilders further improved in February, with the NAHB housing index rising from 44 to 48. The increased confidence is mainly caused by anticipated decreases in mortgage rates and future interest rate cuts by the Federal Reserve.

Despite a slight retreat from its previous peak, the US dollar remains robust, with the euro/dollar at 1.0735. The rise of the dollar is supported by expectations that the ECB will impose higher interest rate cuts than the Federal Reserve.

On Wall Street, US markets closed higher, with the S&P 500 and Dow Jones rising by 0.5 and 0.7 % respectively. Investors quickly rebounded from disappointing inflation figures published earlier this week, despite some weak macroeconomic indicators such as a 0.8 % decline in retail sales and a 0.1 % decrease in industrial production in January.

The 6M Euribor increased with 2 basis points to 3.90% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.72% 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.