Market Information Monday 16 September 2019

Last Saturday drone attacks have been executed on two oil installations in Saudi Arabia. The attack was claimed by Yemeni Houthi rebels. However, the United States accuses Iran of being behind the attacks. The attack has halted approximately 5% of worldwide oil production. Analysts estimate that it will take weeks before production is fully restored. Oil prices rose sharply due to the news; Monday morning the price of a barrel of Brent oil had risen by around 9.6% to USD 66.02.

A preliminary estimate from the University of Michigan shows that consumer confidence in the United States increased slightly in September 2019. The index that measures confidence rose from 89.8 in August to 92.0 this month. Economists estimated on average an increase to 90.8.

The president of De Nederlandsche Bank (DNB) Klaas Knot has spoken out in an official statement against the newest measures of the ECB. Last week the ECB lowered the deposit rate and announced to restart its Quantitative Easing programme. According to Knot, the policy is disproportionate to current economic conditions, and there are valid arguments to question the effectiveness of the measures.

The 6M Euribor is unchanged at -0.41% compared to previous business day. The 10Y Swap increased with 8 basis points to 0.00% 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.