Market Information Tuesday 8 October 2024

Brent crude rose to $80 a barrel, the highest since August, due to Middle East tensions and speculation about an Israeli strike on Iran’s oil infrastructure. The global benchmark’s 3% increase on Monday continues last week’s surge. President Biden expressed uncertainty about an Israeli response, suggesting alternatives to targeting oil fields. West Texas Intermediate crude also rose over 3% to near $77 a barrel.

Key US Treasury yields returned to 4% after strong jobs data reduced expectations of a major Federal Reserve rate cut. Bonds fell Monday, extending declines from last week. The 10-year yield increased to 4.03%, and the two-year yield rose to 4.02%, causing a brief yield curve inversion.

Gold remained stable as traders reduced expectations of Federal Reserve rate cuts following strong US jobs data. It traded near $2,660 an ounce, just below a recent peak. This year, gold has risen 29% due to rate-cut optimism and strong central bank purchases, as well as haven demand amid conflicts.

The 6M Euribor decreased with 2 basis points to 3.05% compared to previous business day. The 10Y Swap increased with 6 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.