The Japanese economy experienced another sharp contraction in the services sector in February, while the manufacturing sector is now also declining. This was revealed on Monday from a preliminary figure from Markit. The index, which measures the activity of the country’s services sector, stood at 42.7 in February from 47.6 in January. Japan’s manufacturing purchasing managers’ index also fell from 54.8 in January to 48.7 in February. The composite index has fallen from 49.9 to 44.6.
The threat of war in Eastern Europe continues to cause uncertainty among investors. The US Secretary of State and his Russian counterpart will meet later this week. The US is conditional on Russia not invading Ukraine in the meantime. In addition, consumer confidence in the eurozone fell 8.8 percent in February.
In Germany, producer prices also rose sharply in January. This was revealed on Monday from figures from Destatis, the German statistical office. Compared to last year, producer prices for January rose by 25.0 percent. On a monthly basis, January experienced a price increase of 2.2 percent.
The 6M Euribor decreased with 2 basis points to -0.48% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.78% 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.
Managed by Sluijmer Multimedia and hosted by True.