Market Information Friday 3 June 2022

German exports and imports rose in April. This was announced on Friday by the German statistics agency Destatis. Exports rose by 4.4 percent on a monthly basis. Imports increased by 3.1 percent. The figures have been adjusted for seasonal influences. Economists expected exports to rise by 1.8 percent on a monthly basis and imports to fall by 0.4 percent. On an annual basis, exports increased by about 12.9 percent in April. Imports increased by 28.1 percent.

The Japanese service sector has grown significantly in May. This was revealed today from final figures from Markit. The country’s service sector index stood at 52.6 in May. That was 50.7 in April. 51.7 was reported in the preliminary measurement. The purchasing managers’ index for the Japanese industry was found to have decreased in the final measurement on Wednesday from 53.5 in April to 53.3 in May. The composite index rose from 51.1 to 52.3. The preliminary index was 51.4. An index reading above 50 indicates growth and below 50 indicates contraction.

Russian output has already decreased by 1 million bpd since its invasion of Ukraine and is likely to decrease even further as the European Union’s ban on Russian oil kicks in. U.S. West Texas Intermediate (WTI) crude futures dropped 29 cents to $116.58 a barrel, while Brent crude futures were down 15 cents at $117.46 a barrel.

The 6M Euribor increased with 2 basis points to -0.03% compared to previous business day. The 10Y Swap increased with 6 basis points to 1.95% 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.