Market Information Friday 4 October 2024

Despite the escalating conflict in the Middle East, MSCI’s world stock index remains just 1% below last week’s record highs, and oil prices, which surged 5% after Iran’s missile attack on Israel, have stabilized around $75 per barrel. Markets are currently cushioned by prospects of monetary easing and the U.S.’s expanded role in oil production, reducing reliance on Middle Eastern supplies. Wall Street’s VIX volatility index remains moderate at around 20, far below its peak of over 60 seen during market turmoil in August.

Ghana has achieved significant support from over 90% of its international bondholders to restructure $13 billion in eurobonds, facilitating the issuance of new bonds to replace existing ones. This follows Ghana’s unilateral halt of payments on most external debt in 2022 and a $3 billion bailout agreement with the International Monetary Fund in May 2023, aimed at restoring fiscal sustainability. President Nana Akufo-Addo described the restructuring as a landmark achievement that will enhance economic recovery and improve Ghana’s standing with investors.

Blackstone Inc. has begun raising its third Asia-focused private equity fund, targeting at least $10 billion, with a primary focus on India. Japan and Australia will also be significant markets, while China is not a focus due to economic challenges and regulatory issues. The fund’s strategy may shift based on macroeconomic conditions, and Blackstone remains optimistic about India’s growth and plans expansion in Southeast Asia.

The 6M Euribor is unchanged at 3.09% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.37% 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.