Market Information Tuesday 21 April 2026

U.S. importers can claim more than $160 billion in tariff refunds following a February Supreme Court ruling that invalidated the Trump administration’s emergency tariff authority. U.S. Customs and Border Protection (CBP) launched its claims-filing portal, the Consolidated Administration and Processing of Entries (CAPE), on Monday. However, lawyers and importers remain cautious, citing bureaucratic hurdles and potential legal challenges. According to Citi, Walmart alone is due $10.2 billion, with Target at $2.2 billion and Nike at $1 billion.

Kevin Warsh, President Trump’s nominee to succeed Federal Reserve Chair Jerome Powell, addressed the Senate Banking Committee on Tuesday, emphasizing Fed independence while cautioning against overreach into areas like climate change and social inequality. Warsh acknowledged that elected officials may comment on interest rates without threatening monetary policy independence. His confirmation faces a potential delay, as Senator Thom Tillis has vowed to block it pending an investigation into the Fed’s multibillion-dollar headquarters renovation.

Reserve Bank of India (RBI) Governor Sanjay Malhotra warned that the Middle East crisis could trigger persistent inflation in India if supply disruptions continue. Speaking at Princeton University, he highlighted that the region accounts for roughly one-sixth of India’s exports, one-fifth of imports, and half of crude oil shipments. The RBI remains in “wait and watch” mode, becoming more data dependent, while focusing on anchoring inflation expectations rather than raising rates aggressively.

The 6M Euribor decreased with 3 basis points to 2.42% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.01% 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.