Market Information Thursday 23 January 2025

Donald Trump, after returning to the White House, signed executive orders that halted over $300 billion in green infrastructure funding, disrupting clean energy initiatives and affecting loans managed by the Department of Energy. His actions target Biden’s climate policies and suggest a shift towards boosting fossil fuel production while questioning subsidies for electric vehicles and renewable energy. This move has caused concern among investors and has already led companies to reconsider or halt renewable energy projects in the U.S.

The Stoxx Europe 600 index hit a record high as investor concerns about US tariffs eased, bolstered by strong corporate earnings and attractive valuations of European stocks. Gains were driven by some of Europe’s largest companies, reflecting a broader market optimism. A survey indicated a notable shift in investor focus from US to European equities due to concerns over high valuations in the US.

Chinese stocks and the renminbi fell following President Trump’s announcement of a potential 10% tariff on China, which he cited as a response to fentanyl flow concerns. The CSI 300 and Hong Kong’s Hang Seng indices dropped, with the offshore renminbi weakening before showing some recovery. The US dollar strengthened amid the tariff threat, while markets in other parts of Asia, like South Korea and Japan, saw gains.

The 6M Euribor decreased with 1 basis point to 2.61% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.48% 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.