Market Information Friday 24 September 2021

The number of initial jobless claims in the United States rose unexpectedly last week to 351,000. This is an increase of 16,000 from the revised 335,000 a week earlier. Economists had expected 320,000 new claims. The four-week moving average remained unchanged at 335,750, remaining at its lowest point since March 2020.

The Chinese central bank injected money into the economy for the second time this week. Both injections were reverse repurchases of about USD 18.6 billion. In total, the People’s Bank of China has injected USD 71 billion into the Chinese economy in the past 7 days. Several analysts believe that the reason for this is the debt crisis of Evergrande, the Chinese real estate giant.

The Turkish central bank cut its policy rate from 19% to 18%. For many market watchers this came as a surprise as the inflation rate was 19.25% in August. Analysts now speculate that the reduction has been initiated by President Erdogan. The market reacted negatively to the news and the Turkish lira fell by 1.5% versus the US dollar. As a result, it reached its lowest point ever of 8.8 lira for 1 dollar.

The 6M Euribor increased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap increased with 6 basis points to 0.11% 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.