Market Information Wednesday 31 July 2024

The German economy unexpectedly shrank by 0.1% in the second quarter, marking continued struggles with stagflation and diverging from the eurozone’s overall growth of 0.3%. Meanwhile, inflation in Germany rose to 2.6% in July, exceeding expectations and reinforcing concerns about persistent inflationary pressures.

The eurozone economy grew by 0.3% in the second quarter, slightly exceeding expectations, but pessimistic surveys and mixed economic indicators cloud the outlook for the rest of the year. While France and Spain outperformed, perceived ongoing competitiveness issues in the eurozone remain concerning.

U.S. consumer confidence rose unexpectedly in July to 100.3, despite ongoing concerns about inflation and high borrowing costs. Inflation expectations remained steady at 5.4% for the next 12 months, reflecting persistent worries about elevated prices.

The 6M Euribor is unchanged at 3.59% compared to previous business day. The 10Y Swap decreased with 3 basis points to 2.62% 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.