Market Information Thursday 10 July 2025

The U.S. president announced a 50% tariff on copper imports, causing New York futures to spike. Since February, traders had rushed record volumes of copper into the U.S., hoping to beat the tariff’s implementation. The move adds uncertainty to global trade and could raise costs across multiple U.S. industries reliant on copper.

Fears of a sharp U.S. inflation spike tied to tariff threats have eased, with short-term expectations holding steady at 3% since January. The annual U.S. inflation rate is at 2.4%, just above the Fed’s 2% goal, while long-term expectations remain stable. Consumers still foresee significant price hikes in key areas, including 9.3% for medical care and 5.5% for food.

Gold ETFs saw $38 billion in inflows and added 397.1 metric tons in the first half of 2025, marking their largest semi-annual rise since early 2020. The surge followed years of outflows and was driven by renewed investor demand amid political and economic uncertainty. This active first half comes after a modest net inflow in 2024, which ended a three-year period of outflows triggered by high interest rates.

The 6M Euribor is unchanged at 2.02% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.62% 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.