Market Information Tuesday 7 January 2025

Germany’s inflation unexpectedly climbed to 2.9% in December, surpassing forecasts and marking the third month above the ECB’s 2% target. Core inflation, excluding food and energy, reached 3.1%. The data arrives as Germany faces political uncertainty ahead of elections. Dutch inflation increased to 4.1% in December, according to Statistics Netherlands.

Canadian markets remained stable as Trudeau announced his resignation as Liberal Party leader, retaining his role as prime minister until a new leader is chosen. The S&P TSX index rose 0.1%, with the Canadian dollar and the iShares MSCI Canada ETF each gaining 0.5%. Trudeau’s departure follows internal party struggles and economic challenges, while the Conservative Party leads in polls.

Bitcoin rocketed past $100,000, gaining 4% to $102,234, with broader crypto markets also climbing, as measured by the CoinDesk 20 index. The positive trend correlates with a rebound in tech stocks, boosting the Nasdaq by 1.7%. Crypto-related stocks like Coinbase and MicroStrategy saw gains. Optimism in the market is linked to anticipated regulatory support post-election and bullish forecasts.

The 6M Euribor decreased with 1 basis point to 2.55% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.44% 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.