Market Information Wednesday 20 September 2023

Japanese exports decreased in August for the second month in a row. This was revealed on Wednesday by figures from the Japanese government. Exports decreased by 0.8% year-on-year in August, following a 0.3% percent decrease in July. Japan’s exports increased for more than two years in a row until June of this year. That streak came to an end in July. Japanese imports decreased by 17.8% year-on-year in August.

Inflation in the Eurozone decreased in August. Eurostat figures showed this on Tuesday. An earlier preliminary reading pointed to unchanged inflation from the previous month. Consumer prices increased by 5.2% year-on-year in August. Th price increase was 5.3% in July and 5.5% in June.

The Netherlands provides EUR 39.7 billion to EUR 46.4 billion in tax benefits per year for the use of fossil fuels. This was revealed on Tuesday by the publication of the Dutch budget. About EUR 19.8 billion of these benefits are based upon European agreements and regulations, which means that the next cabinet cannot withdraw these benefits. Part of the European benefits include the exemption from excise tax for the use of oil as a raw material (EUR 14.0 billion) and the exemption from excise tax for international aviation for kerosene consumption (EUR 2.2 billion).

The 6M Euribor increased with 1 basis point to 4.07% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.26% 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.