Market Insights

Market Information Monday 23 October 2023

In September passenger cars sales significantly increased in Europe, albeit at a slower growth rate than the previous month. The European automotive industry organization ACEA reported that the number of new cars sold in Europe increased by 9.2% last month, which is considerably lower than the 21% growth in August on a year-on-year basis. In the Netherlands, sales rose by 16.6% in September.

In September, producer prices in Germany saw a substantial decline, according to data from the German Federal Statistical Office, Destatis. On an annual basis, there was a decrease of 14.7%, marking the sharpest decline since Destatis began recording data in 1949. The lower prices were expected, given the significant increase of 45.8% in September 2022, attributed to the Ukraine conflict. Energy prices have since dropped by 35.3% annually, with only a modest 0.2% decline compared to the previous month.

According to government data, consumer prices in Japan increased less in September than in the previous month. The annual inflation rate, including the influence of fresh food and energy, stood at 3.0%, compared to 3.2% the month before. This marks the seventeenth consecutive month where inflation has exceeded the Bank of Japan’s desired level of 2%.

The 6M Euribor decreased with 1 basis point to 4.13% compared to previous business day. The 10Y Swap decreased with 1 basis point to 3.47% 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.


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