Market Information Monday 12 April 2021

On Friday, the US Department of Labor reported that producer prices in the US rose at a higher rate in March than a month earlier (1.0% on a monthly basis). Adjusted for the volatile prices of trade, food and energy, producer prices rose by 0.6% in March. Economists expected an increase of 0.4%. In February prices have risen by 0.5%. On an annual basis, producer prices have risen by 4.2%, core prices increased 3.1%.

German industrial production experienced an unexpected contraction in February compared to the previous month. This is evident from the figures of Destatis, the German statistical office. Seasonally- and working days- adjusted production was 1.6% lower than the previous month in February. Economists expected a growth of 1.1%. On an annual basis, industrial production was a 6.4% lower.

US government bonds were hit by fresh selling on Friday as the Treasury department seeks to issue more than $370bn of new securities over the next three weeks. Analysts warn of further volatility. Long-dated Treasury yields rose back towards recent highs, with the 10-year Treasury note trading 0.05 percentage points higher on Friday at 1.667%. Last week, the 10-year rate was closer to 1.6%.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 3 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.