Market Information Wednesday 27 December 2023

The British economy slightly contracted in Q3 according to new data from the ONS, the UK’s statistical agency. It shrank by 0.1%, contrary to earlier expectations of stability. Q2 of 2023 also showed zero growth, previously reported as a 0.2% increase.

In November, existing home prices in the Netherlands fell by 0.9% annually, a milder drop compared to the previous month’s 2.3% decline. Monthly, prices rose by 0.5% in November, less than the 0.7% increase in October. Since the low point in June 2013, housing prices rose, peaked in August 2022, then declined until June 2023 before rising again. In November, prices were nearly 93% higher compared to the June 2013 low. The Kadaster recorded nearly 1% more home transactions in November compared to the previous year, yet over the first eleven months of 2023, sales were over 5% lower than the same period in 2022.

In November, the US core inflation experienced a more significant annual decline than expected, dropping from 3.4% to 3.2%. Monthly, core prices increased by 0.1%. Regular inflation measured by the PCE decreased from 2.9% to 2.6%. US incomes grew by 0.4% monthly, meeting expectations, while consumer spending increased by 0.2%, lower than the predicted 0.3%.

The 6M Euribor decreased with 2 basis points to 3.90% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.45% 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.