Market Insights

Market Information Thursday 22 February 2024

At the most recent meeting of the Federal Reserve, most members maintain a cautious stance towards lowering interest rates. The released minutes indicate fears that easing monetary policy too quickly could lead to entrenched price pressures. Only a minority of Fed members are concerned about the potential consequences of a prolonged restrictive policy.

The Japanese economy experienced strong export growth with an 11.9 percent increase in January, following an increase of 9.7 percent in December, exceeding forecasts of 9.4 percent. This growth led to an unexpected trade surplus, aided by a significant increase in exports to China by 29.2 percent, driven by the automotive industry and semiconductor production equipment.

Consumer confidence in the eurozone showed a slight improvement in February with an increase of 0.6 percentage points to an index of -15.5, which, however, remains well below the long-term average.

Oil prices closed higher with a barrel of WTI rising by 0.87 dollars to 77.91 dollars. The sentiment in the oil sector remains mixed, influenced by concerns over global demand but also by tensions in the Middle East that result in supply threats.

The 6M Euribor increased with 1 basis point to 3.93% compared to previous business day. The 10Y Swap increased with 6 basis points to 2.79% 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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