Market Information Friday 17 March 2023

Oil prices rebounded by about 1% on Friday. Brent crude futures rose by 81 cents to $75.51 a barrel, having snapped three days of losses to settle 1.4% higher on Thursday. U.S. West Texas Intermediate crude climbed 78 cents to $69.13 a barrel, after closing 1.1% higher in the previous session.

The European Central Bank raised interest rates as expected by 50 basis points on Thursday, sticking with its fight against inflation and facing down calls by some investors to hold back on policy tightening until turmoil in the banking sector eases.

Major US banks are putting $30bn into regional bank First Republic Bank. This was reported by the US Treasury and the Fed, among others, in a joint statement on Thursday evening. The banks are making this significant injection of capital after there was considerable unease among investors over the collapse of Silicon Valley Bank (SVB) and the Swiss central bank’s billion-dollar bailout to prop up Credit Suisse.

The 6M Euribor increased with 9 basis points to 3.13% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.98% 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.