Market Information Tuesday 09 June 2026

The European Central Bank (ECB) is widely expected to raise its key interest rate from 2% to 2.25% on Thursday, which would mark its first increase since September 2023. Eurozone inflation climbed to 3.2% in May, driven by persistently high energy prices following the closure of the Strait of Hormuz, which is now feeding through into services inflation and inflation expectations. Markets are pricing in nearly three rate hikes this year, though economists at ING consider a single “hawkish hike” in June their base scenario.

China’s exports rose 19.4% year-on-year in May, beating forecasts of 15%, driven largely by surging artificial intelligence (AI) related goods and green technology products such as electric vehicles, batteries, and solar panels. Shipments to the U.S. jumped 35.4%, the highest growth since March 2021. Imports expanded 27.4%, lifting the trade surplus to $105.4 billion. Economists warn that domestic demand remains weak, and that the export boom may be short-lived once overseas stockpiling fades.

On June 14, Switzerland votes on a referendum to cap its population at 10 million, backed by the Swiss People’s Party (SVP). The latest poll shows 47% in favour and 52% against. Businesses warn the measure could restrict access to skilled labour and jeopardise Switzerland’s bilateral agreements with the European Union (EU), its largest export market. Economists estimate that abandoning those accords could reduce Swiss economic growth by 7.1% between 2028 and 2045, equivalent to 685 billion Swiss francs.

The 6M Euribor decreased with 1 basis point to 2.58% compared to previous business day. The 10Y Swap increased with 3 basis points to 3.11% 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.