Market Information Monday 18 May 2026

Global government bond yields surged as fears of an inflationary shock from the Iran war intensified. The 30-year United States Treasury yield ended last week at 5.12 percent, the highest since 2007, while long-dated yields in Japan and the United Kingdom also hit record or multi-decade highs. High inflation data, rising oil prices and expectations of tighter Federal Reserve policy pressured bonds and equities, with major stock indices falling.

The European Union plans to cut steel import quotas by 47 percent from July 1 and impose a 50 percent tariff on volumes above the quota, a move Ukrainian officials warn could severely damage Ukraine’s economy. Ukraine exported 2.65 million tonnes of steel to the EU last year, and the proposed limits could reduce exports by around 70 percent, costing up to €1 billion in revenue.

The UK government is expected to postpone a planned fuel duty increase due in September, extending a temporary tax cut first introduced in 2022. Letting the cut expire would raise petrol prices by 5 pence per litre. The move comes as oil prices have risen about 60 percent since the Iran war began and as ministers prioritise cost of living pressures. Fuel duty raised £24 billion last year and freezing it could widen future budget shortfalls.

The 6M Euribor is unchanged at 2.55% compared to previous business day. The 10Y Swap increased with 13 basis points to 3.20% 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.