Market Information Monday 17 November 2025

The U.S. decision to exempt dozens of food products from earlier tariffs provides Indian agricultural exporters with much-needed relief after significant tariff hikes this year. Although the move could benefit $2.5–3 billion worth of exports and signals progress in U.S.–India trade talks, analysts expect only limited gains because India has little presence in many of the newly exempt categories. High freight costs, strong competition, and strict U.S. quality standards may further constrain the potential boost.

Federal Reserve policymakers remain divided over whether to cut interest rates again in December, as key economic data delayed by the government shutdown is about to be released. Several officials voiced renewed concerns about persistent inflation, while other members argued for another rate cut. As a result, market expectations have shifted, with traders now seeing a higher likelihood that the Fed will hold rates steady in December.

Financial disclosures show that President Donald Trump purchased at least $82 million in corporate and municipal bonds from late August to early October, with a maximum total value exceeding $337 million. Most investments were in publicly issued bonds, but he also added holdings in industries benefiting from his administration’s policies, including tech firms, chipmakers, and major banks. The activity has raised renewed concerns over potential conflicts of interest, even though the portfolio is said to be managed by a third party.

The 6M Euribor increased with 1 basis point to 2.15% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.76% 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.