Market Information Tuesday 10 September 2024

Dutch house prices are seeing double-digit growth for the first time in a long period. In July, prices were 10.6% higher than a year earlier. Buyers paid about €44,000 more on average per home, notes Rabobank. Rising incomes and housing shortages are driving prices up faster than expected, with a 9.1% rise forecast this year and 10.7% next year. Transactions remain low due to limited supply.

Oil prices recovered on Monday after hitting their lowest point in over a year last week. West Texas Intermediate rose by about 1% to above $68 per barrel, while Brent exceeded $71 per barrel. The recent drop was caused by economic weakness in the US and China, raising demand concerns amid ample supply. This week, OPEC, the Energy Information Administration, and the International Energy Agency will provide market insights through their monthly reports. Market sentiment remains pessimistic, with money managers the least optimistic about oil in over 13 years.

Statistics Netherlands (CBS) confirmed today that inflation in August was 3.6% compared to the same month last year. The decrease is mainly due to lower motor fuel prices, which were 5.6% lower than in August 2023. In contrast, fuel prices were 1.5% higher in July compared to the previous year. Clothing prices also contributed to the lower inflation rate, according to CBS.

The 6M Euribor decreased with 1 basis point to 3.35% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.42% 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.