Market Insights

Market Information Thursday 27 June 2024

In May, significantly less new single-family homes were sold in the United States compared to the previous month, when considerably more homes were sold than earlier estimated. This was revealed on Wednesday by the U.S. Department of Commerce. The number of sold new single-family homes dropped by 11.3 percent month-on-month to 619,000 units in May. On an annual basis, this represented a decline of 16.5 percent. A 0.9 percent increase to 640,000 sold new homes was initially expected. However, the April figure was sharply revised up from 634,000 to 698,000.

Consumer confidence in Germany unexpectedly declined slightly. This was revealed on Wednesday by measurements from research institute GfK, which measures one month ahead. The confidence index came out at -21.8 versus -21.0 for June, adjusted from an earlier forecast of -20.9. Economists had anticipated an index improvement to -19.5 for July.

Crude oil inventories in the United States unexpectedly increased last week, along with gasoline inventories. This was revealed on Wednesday by the U.S. Energy Information Administration (EIA). For the week ending June 21, crude oil inventories rose by 3.6 million barrels to 460.7 million barrels. A decrease of 2.3 million barrels had been expected. Gasoline inventories increased by 2.6 million barrels to 233.9 million barrels. A decrease of 1.2 million barrels had been expected. Distillate fuel oil and diesel inventories decreased by 0.4 million barrels to 121.3 million barrels, where a decrease of 0.3 million barrels had been anticipated. Refinery capacity utilization dropped from 93.5 to 92.2 percent, no change was expected.

The 6M Euribor increased with 1 basis point to 3.67% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.80% 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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