Market Information Tuesday 13 February 2024

The US ten-year yield dropped slightly to 4.15% yesterday, while the euro/dollar traded around 1.0770. Analysts anticipate a resilient performance of the dollar in the short term, caused by global growth slowdown and high yields on US bonds. However, expectations of a Federal Reserve interest rate cut in the second quarter may weaken the dollar.

European stock markets rose, fueled by remarks made by ECB official Fabio Panetta about imminent interest rate cuts. The AEX reached another record high, climbing 0.4% to 854.88 points. The Stoxx Europe 600 index and the German DAX showed similar gains, while the French CAC 40 and the British FTSE exhibited slight fluctuations.

Sharp declines in commercial real estate were recorded in Germany, with a downturn of 12.1% in the final quarter of 2023, particularly in office properties. This trend, documented in the quarterly report of the Verband deutscher Pfandbriefbanken (vdp), signals challenging times for the real estate market in the country.

The 6M Euribor increased with 1 basis point to 3.90% compared to previous business day. The 10Y Swap decreased with 3 basis points to 2.73% 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.