Market Information Friday 17 May 2024

The Japanese economy contracted again in the first quarter of this year, according to data from the Japanese government. Economists had expected a contraction of 0.4 percent, but the actual contraction was 0.5 percent on a quarterly basis. This marks a continuing challenge for Japan, as its gross domestic product had already contracted by 0.9 percent in the third quarter of last year. On an annual basis, the economy contracted by 2.0 percent in the first quarter, highlighting concerns about the country’s economic growth.

Data from the US Department of Labor indicates that American import prices rose in April. On a monthly basis, prices increased 0.9 percent compared to a rise of 0.6 percent the previous month, which exceeded economists’ expectations of 0.3 percent. Fuel import prices increased by 2.4 percent following a 5.4 percent rise the previous month. Export prices increased by 0.5 percent on a monthly basis, while on an annual basis, import prices were 1.1 percent higher and export prices were 1.0 percent lower.

On Thursday, oil prices continued to rise, with a barrel of West Texas Intermediate (WTI) becoming 0.8 percent more expensive, reaching a price of $79.23. The price for a barrel of Brent increased by 0.7 percent to $83.27. These price increases followed Wednesday’s news that U.S. oil inventories had declined for the second consecutive week. Additionally, favorable inflation figures from the United States also positively impacted oil futures.

The 6M Euribor is unchanged at 3.80% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.74% 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.