Market Information Wednesday 27 September 2023

In July, house prices in the largest urban regions of the United States increased on a yearly basis for the first time since February, according to data from Standard & Poor’s Case-Shiller. There was a 0.1 percent increase in the twenty largest regions, while a 0.9 percent increase was observed in the ten largest regions. In June, house prices had declined by 1.2 percent in the twenty largest regions and by 0.5 percent in the ten largest regions on a yearly basis. On a monthly basis, prices in July increased by 0.6 percent in both the twenty and ten largest regions.

The oil price rose on Tuesday,  after four previous declines, igniting the possibility of a revival in a sustained uptrend. On the New York Mercantile Exchange, the future price of West Texas Intermediate crude oil closed 0.9 percent higher at $90.45 per barrel, while Brent crude rose 0.6 percent to nearly $92.45 per barrel. The earlier declines were likely prompted by profit-taking, but some traders remain optimistic about the potential for the oil price to surpass the $100 mark. This recent downturn may also be linked to uncertainty regarding oil demand after the Federal Reserve announced that interest rates will continue to rise and remain elevated longer than previously anticipated by investors.

Consumer confidence in Germany has declined once again, according to measurements by the research agency GfK, which assesses one month ahead. The confidence index for October stood at 26.5 negative, compared to 25.6 negative in September. This figure was slightly lower than the anticipated 26.0 negative that economists had predicted for OctoberThe 6M Euribor increased with 4 basis points to 4.12% compared to previous business day. The 10Y Swap increased with 1 basis point to 3.35% 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.