Market Information Monday 21 March 2022

Yemen’s rebels attacked at least six sites across Saudi Arabia on Saturday and Sunday. The group backed by Iran targeted a fuel depot in Jazan in the southwest of the kingdom and a natural gas plant in the Red Sea city of Yanbu. West Texas intermediate for April delivery rose 3.5% to $108.32 a barrel.

With the earnings season behind us, the focus for this week will be on the Ukraine conflict. There has been little news about the negotiations in recent days. Market analysts indicate that there is growing skepticism about whether Russia is really interested in an agreement. On Monday, German product prices will be on the macroeconomic agenda. These are very important data for central bankers’ policy. A series of composite industrial and services purchasing manager indices will be released Thursday, passing through Japan, Europe and the Americas. The week will be closed on Friday with the figure for Dutch economic growth for the fourth quarter of the 2nd estimate.

The Australian government immediately banned the export of alumina and aluminum ore to Russia. This has consequences for Russian exports to the car industry, aerospace and construction sectors, among other things. Aluminum is also essential to the arms industry and Australia supplies nearly 20 percent of Russia’s alumina. In 2021, Australia exported nearly USD 10 billion worth of bauxite, alumina and aluminum.

The 6M Euribor decreased with 1 basis point to -0.40% compared to previous business day. The 10Y Swap is unchanged at 1.01% 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.