Market Information Thursday 29 January 2026

The Federal Reserve held rates at 3.50 to 3.75 percent, citing solid growth and still elevated inflation, and offered no guidance on when easing may resume. Two policymakers voted for a 25-basis point cut, while unemployment fell to 4.4 percent and labour risks were judged more balanced. Markets edged lower, with the 10-year yield rising to about 4.26 percent and futures pricing the next cut in mid June.

India’s industrial output surged to a two year high in December, with production up 7.8 percent year on year, led by broad based gains in manufacturing, mining and power. Manufacturing rose 8.1 percent while mining grew 6.8 percent, as November growth was revised up to 7.2 percent, signalling strong late year momentum. The picture is softer over time, with output up 3.9 percent in April to December, slightly below last year’s pace.

Gold surged above $5,300 an ounce, extending a rally driven by dollar weakness and an investor retreat from bonds and currencies. Gold is up about 22% this year, with silver nearly 60%, as a 1.1% drop in the dollar index and bets on lower interest rates lift non yielding assets. Fiscal and geopolitical strains, including bond market selloffs, have intensified flows into precious metals.

The 6M Euribor decreased with 1 basis point to 2.15% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.88% 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.