Market Information Monday 13 May 2024

The British economy grew by 0.6 percent in the first quarter, following a 0.3 and 0.1 percent contraction of the GDP in the fourth- and third quarter respectively, according to the UK’s Office for National Statistics. On an annual basis, the British economy expanded by 0.2 percent in the first three months of 2024.

In May, consumer confidence in the US economy declined significantly, with the University of Michigan index dropping from 77.2 to 67.4 compared to April. Both the current economic climate and future expectations worsened, with sub-indices decreasing from 79.0 to 68.8 and from 76.0 to 66.5, respectively. The inflation expectation for the next 12 months rose to 3.5 percent from 3.2 percent at the end of April, while the forecast for the next 5 years increased from 3.0 to 3.1 percent.

Oil prices declined on Friday, with West Texas Intermediate settling at 78.26 dollar per barrel, down 1.3 percent, and Brent crude falling over one percent to 82.85 dollar. Optimism regarding Chinese demand and escalating tensions in the Middle East provided support, but a drop in US consumer confidence dampened sentiment. Meanwhile, investors continue to weigh demand dynamics against supply risks stemming from geopolitical tensions.

The 6M Euribor is unchanged at 3.80% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.80% 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.