Market Information Friday 22 November 2019

The World Trade Organization (WTO) announced that G20 countries imposed 28 new trade barriers in the last six months covering a trade worth approximately USD 460.4 billion, 37 percent more than the year before. According to the WTO the barriers are mostly imposed by the US, China and the EU. The WTO expects the worldwide trade in goods to have the slowest growth this year in ten years.

The Organization of Economic Cooperation (OECD) warns banks of increasing negative pressure from the negative interest rates charged by the European Central (ECB). Certainly, if the ECB continues its purchasing program for government bonds. According to OECD, the banks must spend more money on storing their surplus reserves. This is because the EUR 20 billion monthly purchasing program ensures that banks’ reserves will increase proportionally.

According to preliminary figures published by the European Commission, consumer confidence in the Eurozone increased in November compared to October. The indicator increased to a level of minus 7.2 in comparison to a level of minus 7.6 in October.

The 6M Euribor is unchanged at -0.34% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.09% 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.