Market Information Friday 27 August 2021

The number of initial jobless claims in the United States rose slightly last week to 353,000, an increase of 4,000 applications compared to last week’s adjusted 349,000. The four-week moving average, was 366,500 applications, the lowest point since March 2020.

The volume of bank credit is gradually normalizing, according to an ECB report. Companies have applied for less credit and the focus has returned to obtaining long-term financing. In contrast, individuals in the Eurozone have been borrowing more. The total debt of households at banks now adds up to EUR 6,533 billion, an increase of 4.2% compared to July 2021.

Investors worldwide are eagerly awaiting the speech of Fed Chairman Jerome Powell, which will take place this afternoon. They are looking for a hint from the chairman that the monetary support in the U.S. can be reduced. Several policymakers within the Fed have already publicly stated that they are in favor of tapering and according to analysts, these statements caused stock prices to fall. Opponents of tapering point, among other things, to the emergence of the delta-version of the coronavirus in the US.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.05% 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.