Market Information Wednesday 8 May 2024

Retail sales in the Eurozone increased in March, rising by 0.8% month-over-month after a decline of 0.5% in February, outperforming initial expectations of a 0.6% increase.

India’s fuel demand rose by 6.1% year-on-year in April, reflecting increased economic activities and consumption patterns. The growth was led predominantly by petrol and diesel, with total fuel consumption reaching 19.86 million metric tons. Despite the monthly decline, the continued growth underscores India’s significant role as the world’s third-largest oil importer and consumer.

The OECD forecasts the growth rate for the UK to be the lowest among all advanced nations next year with a projected GDP increase of just 0.4%, highlighting challenges from high interest rates and ongoing inflation. While the global economy is expected to stabilize with a growth rate of 3.1% in 2024 and 3.2% in 2025, the UK’s performance will lag behind other major economies, reflecting broader monetary policy impacts on recovery and consumption.

The 6M Euribor decreased with 1 basis point to 3.79% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.71% 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.