Market Information Friday 8 April 2022

The U.S. Federal Reserve is far behind schedule in steering U.S. inflation to the desired 2% level. This is what President of the St. Louis Fed James Bullard said on Thursday. Based on the Fed monetary policy rules, the Federal Funds Rate should have been at 3.5 percent by now, Bullard said. The Federal Funds Rate currently stands at 0.25 to 0.50 percent and inflation in the United States at nearly 8 percent.

Production in the Dutch manufacturing sector increased by 10.2% year-on-year in February this year. Production in the subsector “transport equipment” showed a decreased of 10.5%. On a monthly basis, production did decline slightly. The daily production index was 118.2 for February 2022. In the months of January 2022 and December 2021, the index was 118.7 and 120.5 respectively.

The U.S. Senate voted unanimously on Thursday to curb imports of Russian gas, oil and coal. An overwhelming majority, 413 to 9, in the House of Representatives voted in favour of the measures. This vote follows President Joe Biden’s earlier decision to stop energy imports from Russia.

The 6M Euribor increased with 2 basis points to -0.36% compared to previous business day. The 10Y Swap increased with 2 basis points to 1.34% 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.