Market Information Tuesday 19 September 2023

In September, the confidence among American home builders has once again significantly decreased, similar to the trend observed a month earlier. This was revealed on Monday by data from the National Association of Home Builders. The NAHB Housing Market Index dropped from 50 in August to 45 this month. This signifies that the sales conditions are considered negative. The index recorded a value below 50 for the first time in five months.

For the fourth consecutive day, oil prices have risen, reaching their highest level in nearly ten months on Tuesday. Currently, a barrel of Brent crude oil is trading at over USD 95, which is 0.7% higher than the previous day. The increase in oil prices is primarily attributed to production constraints imposed by major oil-producing countries like Saudi Arabia and Russia. Since the announcement of these limitations in June, prices have surged by more than 30%.

A substantial majority in the Dutch House of Representatives intends to scrap the planned fuel tax increase as of January 1st. This was reported on Monday evening by NOS and RTL Nieuws, based on consultations with parties in the House of Representatives. The excise duties on diesel and petrol are set to rise as of January 1st, and including an inflation adjustment, the pump price per liter could increase by 21 cents.

The 6M Euribor increased with 2 basis points to 4.06% compared to previous business day. The 10Y Swap increased with 3 basis points to 3.24% 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.