Market Information Monday 20 April 2020

Several ECB policymakers announce separately that the European Central Bank (ECB) can take further measures if necessary, to help the eurozone through the corona crisis. Despite the announcement to buy more than $ 1 trillion debt this year, tensions on the capital markets are increasing. Policy makers expect inflation to remain below the desired level of 2 percent for the time being.

The German Federal Statistical Office reported that producer prices in Germany fell by 0.8 percent in March compared to the previous month. Economists had expected an average decline of 0.7 percent. In February, the producer prices decreased by 0.4 percent.

The drop in the WTI oil price continues. Due to collapsed demand, global storage capacity is likely to become saturated. Oil futures in New York fell 8% to $ 17 a barrel when the Asian stock markets opened. That is the lowest price in 21 years. The reduction in production agreed by OPEC + therefore appears to have little effect on oil prices.

The 6M Euribor increased with 1 basis point to -0.19% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.08% 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.