Market Information Thursday 27 November 2025

US equities rose for a fourth straight session before Thanksgiving as confidence built around easier policy. Futures pricing implies over 80% odds of a December quarter point cut after soft retail sales and wholesale inflation, while jobless claims fell to the lowest since April. Attention turns to regional data for signals on consumer spending and the labor market amid a policy data lull.

An early release of official budget forecasts rattled UK markets ahead of the fiscal statement, an unprecedented breach in 15 years. Ten-year gilt yields fell 10 basis points in about 15 minutes after data showed fiscal headroom rising to £22 billion from £9.9 billion, before reversing. The episode raised concerns over process and governance, prompting an investigation amid heightened market sensitivity to fiscal credibility.

The IMF has reclassified India’s exchange rate regime as crawl like as the rupee weakens and volatility rises, signalling limited but growing flexibility in currency management. The rupee is down about 4% this year, with one year volatility above 5%, compared with below 2% previously. The fund expects economic growth of 6.6% in 2025–26 and sees scope for rate cuts as inflation stays low.

The 6M Euribor is unchanged at 2.12% compared to previous business day. The 10Y Swap is unchanged at 2.73% 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.