Market Information Monday 22 September 2025

After nine years of negotiations, the EU and Indonesia have signed a trade deal aimed at reducing dependence on the US and strengthening ties in Southeast Asia. The agreement, which still needs approval by both parliaments, could boost Indonesian exports by up to 50% in five years and give EU firms access to a market of 285 million people. It also reflects Europe’s push for critical metals like nickel, while balancing disputes over sustainability rules and export bans.

Credit rating agency Fitch has upgraded Italy’s credit rating for the first time since 2021, raising it to BBB+ due to improved fiscal discipline, political stability, and reforms under Prime Minister Meloni. Italy’s deficit fell to 3.4% of GDP and may drop below the EU’s 3% limit, boosting investor confidence and narrowing bond yield spreads with Germany. The upgrade contrasts with France, which was recently downgraded amid political instability and growing budget challenges.

The Trump administration has raised the cost of applying for a new H-1B work visa to $100,000, sparking concern among U.S. companies that rely heavily on foreign talent. While the White House later clarified it is a one-time fee only for new applications, firms like Microsoft, Amazon, and Goldman Sachs fear the steep cost will hinder access to skilled workers from countries such as India and China. Trump, however, insists the policy will protect American jobs and claims companies are willing to pay the price.

The 6M Euribor increased with 2 basis points to 2.10% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.70% 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.