Market Information Wednesday 14 August 2024

Credit rating agency Fitch downgraded Israel’s credit rating from “A-plus” to “A,” citing increased geopolitical risks due to the ongoing conflict in Gaza, and warned of further downgrades. The agency expects higher military spending to strain Israel’s budget and debt, projecting a budget deficit of 7.8% of GDP in 2024.

UK wage growth slowed to its lowest rate in nearly two years, easing inflation concerns for the Bank of England, while unemployment unexpectedly fell to 4.2%. The decline in wage growth, combined with a surprising increase in employment, may influence the Bank’s future interest rate decisions.

U.S. manufacturers in high-risk industries are facing sharp increases in insurance costs, with some premiums doubling or tripling as insurers withdraw. This rise, driven by inflation and severe weather risks, is forcing manufacturers to consider passing costs to customers or reducing coverage.

The 6M Euribor increased with 1 basis point to 3.45% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.46% 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.