Market Information Monday 6 October 2025

Hungarian Prime Minister Viktor Orbán has announced a new low-interest loan program for small and medium-sized businesses, offering 3% fixed-rate loans up to 150 million forints, as he faces a tough (re-)election next year. The move follows other pre-election spending measures such as subsidised home loans and wage hikes, aimed at boosting consumption and growth. Economists warn that these policies could raise fiscal risks and push Hungary’s budget deficit above 5% of GDP in 2026.

Italy is urging the U.S. to drop a planned tariff of 91.74% on Italian pasta imports, which would nearly double their price. The U.S. Department of Commerce claims Italian producers sold pasta below fair value, but Rome disputes this and is coordinating with the EU to defend its exporters. The U.S. is a key market worth about $800 million in pasta exports, and new tariffs could hurt Italy’s trade and growth outlook.

Labour markets in major economies have largely frozen as uncertainty over trade, taxes, and AI makes employers hesitant to hire or fire, and workers reluctant to change jobs. Employment growth in the US and other G7 countries has slowed sharply, though unemployment remains low. Experts say the stagnation reflects demographic shifts, post-pandemic caution, and structural challenges rather than an outright downturn.

The 6M Euribor is unchanged at 2.08% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.68% 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.