Market Information Friday 30 December 2022

India’s current account deficit widened in the third quarter as high commodity prices and a weak rupee increased the country’s trade gap, data from the Reserve Bank of India (RBI) showed on Thursday. In absolute terms, the current account deficit was USD 36.40 billion in the third quarter of 2022, its highest in more than a decade. As a percentage of GDP, it was 4.4%, its highest since the second quarter of 2013. While the current account deficit in the preceding second quarter was USD 18.2 billion, only 2.2% of GDP.

The money supply in the euro zone rose less in November, European Central Bank figures showed Thursday. The money supply, in short M3, rose 4.8% year-on-year in November, following a 5.1% plus in October. Lending to households rose 4.1% in November, down narrowly from October’s 4.2%. Lending to non-financial businesses rose 8.4%, after a plus of 8.9% a month earlier.

After an extreme drop, container prices are almost back to pre-pandemic level. The market for global container shipping has completely turned around in a short period of time. In January this year, prices were still at historically high levels, as there was hardly any shipping space available due to (online) buying frenzy during the pandemic and disruptions in the container chain. In recent months, however, a sharp drop of tens of percent points has occurred. Due to a worse performing economy and less transportation demand, rates are heading toward pre-corona pandemic levels.

The 6M Euribor increased with 5 basis points to 2.75% compared to previous business day. The 10Y Swap decreased with 6 basis points to 3.08% 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.