Market Insights

Market Information Tuesday 2 January 2024

The United States was South Korea’s largest export market in December for the first time in two decades. This dethroned China as the most important market for the export of South Korean goods such as computer chips, electronics and cars.

Danish shipping group Maersk is pausing transit through the Red Sea for 48 hours after one of its ships was attacked by Houthi rebels. According to the shipping company, the ship, the Maersk Hangzhou, was attacked on Saturday evening and Sunday morning. The US Navy present in the area said it sank three of the four attacking boats.

On January 1st , the ‘Omgevingswet’ (new Dutch law) came into effect, consolidating various construction and environmental laws. However, the House of Representatives expresses concerns about the implementation, especially regarding potential complications in permit processes and errors in permit issuance. Additionally, the readiness of municipalities for the Environmental Law is being questioned. To prevent potential issues with the implementation of the law in municipalities, they are given the option to gradually introduce the law and temporarily maintain the old procedures.

The 6M Euribor decreased with 1 basis point to 3.88% compared to previous business day. The 10Y Swap increased with 7 basis points to 2.49% 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.

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