Market Information Monday 4 April 2022

The week starts quietly with the Chinese stock markets closed on Monday. There are, however, export figures from Germany and factory orders from America. The market also pays particular attention to the purchasing managers indices for the services sector. Halfway through the week, when the Chinese stock markets reopen, the purchasing managers index from the Netherlands will also be announced. Wednesday evening, attention will mostly be devoted to the minutes of the latest interest rate meeting of the Federal Reserve. The minutes of the European Central Bank will follow the next day. The Fed raised interest rates by 25 basis points last week.

Moscow reported on Friday that Ukrainian helicopters attacked an oil depot in the Russian city of Belgorod. The Kremlin said on Friday that the attack is making peace talks difficult. The US two-year yield rose above the ten-year yield for the third time this year on Friday. According to analysts, this is the best recession indicator. The Eurozone manufacturing purchasing managers’ index fell from 58.2 in February to 56.5 in March, its lowest level since early 2021.

In March, the export of grain from Ukraine was four times smaller than in February, before the invasion of Russia. This was reported by the Ukrainian Ministry of Economy. The grain now must be transported more by rail rather than the Black Sea, from which many goods are normally exported. Ukraine is a major exporter of agricultural products such as grain, maize, and sunflower oil.

The 6M Euribor is unchanged at -0.37% compared to previous business day. The 10Y Swap is unchanged at 1.20% 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.