Market Information Tuesday 19 March 2024

The Bank of Japan bid farewell to negative interest rates after eight years, according to the latest interest rate decision by the Japanese central bank announced on Tuesday. The monetary decision implies that short-term rates now range between 0 and 0.1 percent instead of -0.1 percent. The decision was approved by a

majority vote, with seven in favor and two board members voting against. It marks Japan’s first interest rate hike since 2007, signaling a shift in monetary policy.
Confidence among U.S. homebuilders continued to rise in March, as indicated by data from the National Association of Home Builders (NAHB). The NAHB housing index climbed from 48 in February to 51 this month, reaching its highest level since July 2023 and marking the fourth consecutive monthly increase. A reading above 50 indicates positive sales conditions, marking the first time since July last year that the index surpassed this threshold.

The Netherlands raised €2.61 billion through the reopening of two short-term loans, as reported by the Ministry of Finance agency on Monday. The first loan, maturing on May 30, 2024, offers a yield of 3.77 percent, raising €1.25 billion with a total outstanding amount of €5.50 billion. The second loan, maturing on August 29, 2024, raised €1.36 billion with a yield of 3.747 percent, and has an outstanding amount of €2.46 billion.

The 6M Euribor increased with 1 basis point to 3.91% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.72% 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.