Market Information Monday 10 February 2025

The U.S. economy added 143,000 jobs in January, below expectations, with revisions and weather potentially distorting the data. Unemployment dipped to 4.0%, while wage growth accelerated to 0.5%, suggesting a still-resilient labor market. The Federal Reserve is likely to keep interest rates unchanged until at least June, monitoring economic trends and Trump’s policy impact.

Despite bullish LNG market projections, global supply grew just 2.5% in 2024, partly due to the Biden administration’s LNG export pause. An overbuilt shipping fleet has led to a glut, with spot charter rates in the Atlantic dropping over 90%. U.S. LNG exports have prioritized Europe over Asia, driven by price differences and potential trade tensions with China.

Rising chocolate prices are expected to reduce demand in 2024, leading JPMorgan to cut its cocoa supply deficit forecast to 40,000 tons from 108,000 tons. Cocoa futures have surged near $10,000 a ton, prompting chocolate makers to raise prices and explore recipe reformulations to offset costs. Consumer demand is weakening as high prices impact sales, with global cocoa grindings projected to decline by at least 1.8%.

The 6M Euribor decreased with 1 basis point to 2.47% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.30% 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.