Market Information Friday 8 December 2023
In the third quarter, the economy of the Eurozone experienced a slight contraction compared to the previous quarter. The gross domestic product decreased by 0.1% in the last quarter. On an annual basis, the Eurozone did not grow in the third quarter, following a 0.5% growth in the preceding quarter. This growth figure has been revised downward from the initially reported 0.1%.
The pressure on oil prices is increasing, with Brent crude dropping just below $75 per barrel on Thursday, a level not seen in the past five months. The American counterpart, West Texas Intermediate (WTI), has also become significantly cheaper, hovering just below $70 per barrel. While oil prices peaked at nearly $97 per barrel for Brent crude in September, macroeconomic concerns are currently exerting downward pressure on oil prices.
In October, the Dutch industry significantly reduced its production, according to data from Statistics Netherlands. On an annual basis, the average daily production of the Dutch industry decreased by 11.1%. In September, production declined with 11.0%. The production has been decreasing for ten consecutive months now.
The 6M Euribor is unchanged at 3.95% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.67% 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.