Market Information Tuesday 23 January 2024

Consumer sentiment in January was slightly less negative than in December, as reported by the Statistics Netherlands (CBS). This marks the fifth consecutive month of improved consumer confidence. Concurrently, the CBS indicates that businesses invested 3.6 percent less in November, following a growth of over 2 percent in October.

Gas prices continue to decline due to oversupply, relative political stability, weather influences, and surplus sustainable energy. Currently, the 1-month forward gas contract (per MWh) is priced at €27. ING expects a continuation of the downward trend to new lows of €26 per megawatt-hour and subsequently to €24. However, Banca d’Italia expresses concerns about the potential impact of the recovery in Chinese demand on global gas prices.

Since 2013, the CBS has reported an annual increase in existing home prices compared to the previous year. During that period, home prices nearly doubled. However, according to the latest CBS figures, 2023 marked a change, with a decrease of 2.8%.

The 6M Euribor decreased with 2 basis points to 3.91% compared to previous business day. The 10Y Swap decreased with 3 basis points to 2.69% 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.