Market Information Monday 23 June 2025

Oil prices are expected to rise after the US bombed Iranian nuclear sites, raising fears of Iranian retaliation, especially targeting energy infrastructure or the vital Strait of Hormuz. Analysts predict higher oil prices regardless of Iran’s immediate response, with further spikes possible if the conflict escalates. While oil supply remains stable for now, markets are bracing for increased volatility and geopolitical risk.

Dutch pension funds are reducing their investments in U.S. dollars due to the currency’s weakness and political uncertainty under President Trump. They are also exploring ways to lessen exposure to the American market. Potential new taxes on dividends and criticism of ESG standards make U.S. investments less appealing. Currency hedging is being prioritized as a quicker, less disruptive adjustment than selling U.S. stocks.

The upcoming trading week will be dominated by Middle East tensions after US airstrikes on Iranian nuclear sites, which President Trump called a “spectacular success” while warning of further action. Markets are bracing for uncertainty, especially if Iran retaliates and disrupts oil exports or global shipping. Key events include a NATO summit in The Hague, Jerome Powell’s testimony in Congress, and various economic indicators.

The 6M Euribor decreased with 1 basis point to 2.05% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.54% 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.