Market Information Wednesday 13 March 2024

Confidence among small business owners in the United States declined marginally in February, with the confidence index remaining below the historical average for the 26th consecutive month. Inflation and high costs persist even as the labor market shows signs of improvement, making hiring and retention somewhat easier for small businesses.

The U.S. consumer price inflation for February exceeded economists’ expectations, rising to 3.2 percent year-over-year, with core inflation reaching 3.8 percent. Monthly increases for both consumer and core prices were consistent at 0.4 percent.

OPEC maintains its expectations for an increase in global oil demand, projecting higher production of 2.2 million barrels per day in 2024 and an additional production of 1.8 million barrels per day in 2025, while non-OPEC countries’ production is expected to rise, and global economic growth forecasts have been slightly upgraded. Despite these projections, oil prices were trading lower on Tuesday, both West Texas Intermediate and Brent futures.

The 6M Euribor decreased with 1 basis point to 3.89% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.59% 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.