Market Information Monday 08 June 2026

Oil tanker owners warn of a potential market downturn after record first-quarter profits of $36bn driven by the closure of the Strait of Hormuz during the Iran conflict. Elevated shipping rates, which peaked at $386,685 per day for large vessels, are already easing in anticipation of a reopening. Increased orders for new ships risk oversupply, raising concerns about a boom-and-bust cycle, although some argue previous underinvestment and shifting trade routes may support rates.

The Bank of Canada is expected to hold its policy rate at 2.25% on June 10 and throughout 2026, despite inflation rising to 2.8% in April due to higher energy prices. Inflation remains within the 1–3% target, while weaker core inflation signals subdued demand. Following 275 basis points of rate cuts, the central bank prioritises recovery as the economy faces recession risks, trade uncertainty and oil-driven inflation pressures.

The European Central Bank argues that issuing joint European debt is increasingly necessary to strengthen the bloc’s financial stability and sovereignty. A common safe asset could reduce borrowing costs, deepen capital markets and mobilise household savings for investments in areas such as energy, defence and technology. Persistent political resistance remains, particularly over fiscal risk sharing, but current economic and geopolitical conditions support renewed momentum towards integrated European financing mechanisms.

The 6M Euribor increased with 4 basis points to 2.59% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.08% 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.