Market Insights

Market Information Friday 29 March 2024

American economic growth in the fourth quarter of 2023 exceeded economists’ expectations, with a growth rate of 3.4 percent compared to the expected 3.2 percent. This performance reflected a gradual slowdown in growth following a strong increase of 4.9 percent in the third quarter of the same year.

Yesterday, the euro declined against the dollar due to remarks from Fed official Christopher Waller, suggesting that a Fed interest rate cut in June is less likely. Capital markets still expect that the Fed will cut rates, albeit possibly after further evidence of inflation reaching the desired 2 percent.

In Germany, the number of unemployed rose slightly in March, by 4,000 people, which was lower than the expected increase of 10,000 according to economists. Despite this uptick, the unemployment rate remained unchanged at 5.9 percent, with a total of 2.769 million unemployed in March.

The 6M Euribor is unchanged at 3.86% compared to previous business day. The 10Y Swap is unchanged at 2.58% 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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