Market Information Monday 4 August 2025

Switzerland has responded with surprise to the announcement of a 39% US tariff on Swiss products because, according to Swiss President Keller-Sutter, “a favorable trade agreement” was reached earlier. Both U.S. officials and Swiss business leaders, including the CEO of watchmaker Breitling, blame the pharmaceutical sector for allegedly irritating Trump by, while Switzerland is uncertain how to repair the economic relationship.

Opec+ will again increase oil production in September by 548,000 barrels per day to regain market share, according to Bloomberg. Meanwhile, U.S. President Trump is reportedly considering additional import tariffs on Russian oil, which could drive up oil prices.

While Big Tech and major banks are reporting strong earnings, much of the U.S. economy is showing signs of stress as Trump’s aggressive tariffs drive up costs for consumer and industrial companies. In total, 52 per cent of the S&P 500 companies to have posted results have reported declining profit margins, according to Société Générale.

The 6M Euribor decreased with 1 basis point to 2.08% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.66% 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.