Market Information Wednesday 07 January 2026

US military intervention in Venezuela and related political developments boosted investor confidence, leading to gains in major stock indices. Oil companies saw sharp price increases as investors anticipated renewed access to Venezuela’s vast oil reserves. Defence firms also benefited from expectations of increased military spending. Despite geopolitical uncertainty, markets remained optimistic, with technology and broader sectors also posting gains.

The United States secured an exemption from the global minimum tax of 15% agreed upon by over 130 countries. This allows the US to apply its own minimum tax system, which calculates an average tax rate across jurisdictions rather than applying the 15% rate per country. The move gives US multinationals a competitive advantage compared to firms in regions like the EU, where the OECD rules apply strictly. Critics argue this undermines the original goal of limiting tax competition. The agreement also reduces expected tax revenues for some countries and introduces more flexibility for economic activity incentives.

Analysts predict that in 2026, investors will seek undervalued opportunities outside highly priced technology stocks due to fears of an AI-driven bubble. Small-cap stocks are expected to rebound as interest rates decline, while gold may continue its strong performance supported by central bank buying. Healthcare and financial sectors are forecast to grow, aided by policy changes and efficiency gains. Emerging markets could attract inflows thanks to a weaker dollar and improved stability, though political risks remain. High-yield bonds and event contracts are also anticipated to gain traction, with the latter becoming a fast-growing asset class despite regulatory scrutiny.

The 6M Euribor decreased with 1 basis point to 2.10% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.91% 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.