Market Information Tuesday 16 January 2024
The European gas price fell below €30 per megawatt-hour on Monday afternoon. Persistent good weather, coupled with ample supply of liquefied natural gas (LNG), is exerting downward pressure on the wholesale rate.
The German economy contracted for the first time since the COVID-19 pandemic last year. The largest economy in the eurozone shrank by 0.3% in 2023 compared to the previous year, according to preliminary figures from the German statistical office Destatis.
For the eleventh consecutive week, mortgage rates are decreasing slightly. This goes against expectations, as interest rates increased last two weeks. Van Bruggen Advisory Group attributes this to a shrinking mortgage market. In 2023, significantly fewer mortgages were taken out compared to 2022.
The 6M Euribor decreased with 2 basis points to 3.90% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.62% 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.