Market Information Friday 28 August 2026

Federal Reserve (Fed) Chairman Kevin Warsh addresses the Jackson Hole symposium today, with markets watching for signals on inflation and interest rates. The Personal Consumption Expenditures Price Index held at 3.7% in July, well above the Fed’s 2% target. Colleagues including Kansas City Fed President Jeffrey Schmid and Cleveland Fed President Beth Hammack say current policy, at 3.50%-3.75%, is not restrictive enough, while Boston Fed President Susan Collins called recent data mixed. Warsh has avoided detailed guidance so far.

Poland’s government will unveil its 2027 draft budget on Friday, balancing election-year tax relief with concerns over the European Union’s widest fiscal deficit. Prime Minister Donald Tusk wants the deficit to stay below 7% of GDP, versus 7.3% in 2025 and 6.8% forecast for 2026, though analysts expect 6.5%. Benchmark 10-year bond yields have risen to near 6%. Moody’s Ratings reviews Poland’s credit score in September, with economists warning that insufficient deficit reduction would raise downgrade risk for the $1 trillion economy.

Asian stock markets mostly rose on Friday, with Seoul the exception. Investors welcomed Nvidia’s results but turned cautious ahead of Federal Reserve Chairman Kevin Warsh’s speech at Jackson Hole. South Korea’s KOSPI index fell over 1%, dragged down by SK Hynix and Samsung Electronics, both down up to 3%. Tokyo’s Nikkei 225 rose over 0.5% and Hong Kong’s Hang Seng gained nearly 0.5%, tracking Wall Street gains after Nvidia jumped almost 9%.

The 6M Euribor increased with 1 basis point to 2.77% compared to previous business day. The 10Y Swap increased with 1 basis point to 3.29% 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.