Market Insights
Market Information Tuesday 16 April 2024
The Chinese economy exceeded expectations in the first quarter, growing by 5.3 percent annually, higher than the predicted 5.0 percent. On a quarterly basis, China showed growth of 1.6 percent. Beijing’s target for economic growth this year is around 5 percent, indicating that China is steadily progressing towards achieving its economic goals.
Confidence among American homebuilders remained stable in April, with the NAHB Housing Market Index staying unchanged at 51. While this indicates positive sales conditions, concerns persist over factors such as mortgage rates and inflation. This could be a determining factor for the future dynamics of the housing market in the United States.
The Federal Reserve’s index for the industry in the New York region showed improvement in March, although less than expected. The index rose from -20.9 to -14.3, but remained negative, signalling ongoing pessimistic outlooks. Such regional economic indicators are often used as predictive measures for broader national economic trends.
The 6M Euribor increased with 1 basis point to 3.87% compared to previous business day. The 10Y Swap increased with 8 basis points to 2.75% 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.