Market Information Friday 18 November 2022

Russia and Ukraine prolong the grain deal. The deal ensures Ukraine can safely export agricultural products through Black Sea ports. Wheat prices fell after news of the deal being extended. At the Chicago Board of Trade -where the main contract for wheat is traded – the price fell 1.6% per bushel.

Consumer prices in the eurozone rose 10.6% in October, according to final figures published by Eurostat on Thursday. In September, the price increase was 9.9%. Core inflation, a key indicator for the ECB, was 5.0% year-on-year in October versus 4.8% in September.

The federal funds rate needs to rise to at least 5% and maybe as much as 7% to bring down inflation in the United States, St. Louis Fed president James Bullard said Thursday. According to Bullard, interest rates have not yet reached the level that can be considered “sufficiently restrictive”. The Federal Reserve has been rapidly raising interest rates this year, from zero to a current range of 3.75 to 4.00%.

The 6M Euribor increased with 1 basis point to 2.31% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.76% 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.