Market Insights

Market Information Thursday 29 February 2024

Consumer confidence in the Eurozone improved slightly in February, as shown by the final figures from the European Commission on Wednesday. The index increased by 0.6 points to -15.5, remaining well below the long-term average. Consumers became more positive about their financial situation and seemed more willing to make major purchases. However, consumers became slightly more negative about the general economic situation in their country.

Additionally, Dutch industrial producers were also slightly less negative, according to figures reported by Statistics Netherlands. The confidence index rose from -4.4 in January to -4.2 in February. Manufacturers were more positive about the expected business activity. However, they were more negative about their order books.

The growth of the U.S. economy slowed down even further in the fourth quarter of 2023 than initially measured, according to a second estimate released on Wednesday. The economy grew by 3.2 percent in the fourth quarter, compared to 4.9 percent in the third quarter. An initial calculation put the growth at 3.3 percent for the last three months of 2023.

The United States’ crude oil inventories increased last week, while gasoline, heating oil, and diesel stocks declined. In the week ending February 23, crude oil inventories rose by 4.2 million barrels to 447.2 million barrels. Gasoline stocks decreased by 2.8 million barrels to a total of 244.2 million barrels. Stocks of heating oil and diesel fell by 0.5 million barrels to 121.1 million barrels.

The 6M Euribor increased with 2 basis points to 3.92% compared to previous business day. The 10Y Swap decreased with 1 basis point 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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