Market Information Friday 18 February 2022

Dutch consumers’ confidence in the economic climate fell again in February. This is evident from data from Statistics Netherlands published this morning. The index was -30 in February, a decrease of 2 points compared to January. The average of the past 20 years is significantly above this, at -8. Over the past 4 years, consumer confidence reached its lowest point in May 2020 at a reading of -31. Since then, confidence has risen steadily to -5 in September 2021. Subsequently, a sharp decline is visible.

Between February 5 and February 12, 248,000 initial jobless claims were filed in the United States. This means that the number of new applications unexpectedly rose by 23,000 from a week earlier. Analysts had previously predicted a decline of 7,000. Despite the unexpected increase, the number of initial jobless claims remains approximately at pre-corona levels.

The price of oil (West Texas Intermediate) fell significantly again yesterday for the first time in weeks, falling 2% to USD 91.76. According to analysts, the ongoing conflict between Russia and Ukraine is pushing up prices, but positive news regarding the upcoming nuclear deal with Iran pushes prices down. When this agreement is finalized, Iran will be allowed to start exporting oil again, which means that a substantial increase in the supply of oil is possible in the near future.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.80% 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.