Market Information Monday 18 October 2021

Moscow is still inclined to increase gas supplies to Europe, despite Russian gas consumption reaching an all-time high, according to Deputy Prime Minister Alexander Novak in an interview with channel Rossiya 1 on Saturday. Gas prices in Europe soared this month to well over €100. Gas prices are about five times higher than at the beginning of this year. Russia first wants to replenish its own gas storage reserves before it delivers to Europe. This should be completed by the end of October.

On Friday, the value of bitcoin exceeded 60,000 dollars (51,744 euros). This is the first time since April that the digital coin has reached this value. Bitcoin hit a record high of $64,895 in the spring. Friday’s rise was largely driven by the fact that US authorities may approve trading in ‘exchanged traded funds’ (ETFs) for bitcoins. The cryptocurrency should become accessible to more traders through an approval in the United States.

European car sales in September hit their lowest point since 1995. Last month 718,498 cars were registered in the EU, which is 23 percent less than in 2020. The ‘European Automobile Manufacturers Association’ (ACEA) indicates that this decrease is due to the chip shortage that has been hindering the car sector for several months. Many automobile manufacturers cannot finish the cars as there is a shortage of chips. Analysts and companies in the sector expect that the deficit could continue until 2023.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.22% 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.