Market Information Thursday 5 September 2024

US job openings fell to their lowest level in 3.5 years in July, indicating a cooling labor market, but this is unlikely to lead to a large interest rate cut by the Federal Reserve. Meanwhile, a surge in imports widened the trade deficit to its highest level since June 2022, reflecting strong domestic demand despite potential impacts on GDP growth.

UK services activity reached a four-month high in August, with easing price pressures suggesting a more stable inflation outlook and economic environment following the July elections. The central bank’s recent rate cut and expectations for another cut by year-end have bolstered demand, though concerns remain about policy uncertainty ahead of the autumn budget.

Germany’s services sector growth slowed for the third month in August, signaling a loss of momentum in the economy as employment declined and the outlook remained subdued. The composite PMI, combining services and manufacturing, fell further below the growth threshold, reflecting continued economic weakness.

The 6M Euribor increased with 3 basis points to 3.38% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.47% 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.