Market Information Monday 6 April 2020

Russia, Saudi Arabia and several other large oil-producing countries may discuss a limitation of their oil production on Thursday. That should lay a floor under the oil price, which has declined in recent months due to the outbreak of the corona virus and a price war between Russia and Saudi Arabia. The price of a barrel of crude Brent oil was $ 34.11 on Friday, while in early January the price was almost $ 70.

The corona pandemic has developed into a financial crisis that has no precedent, IMF director Kristalina Georgieva said at a meeting of the fund. “Never in the history of the IMF have we seen the global economy come to a halt before,” said Georgieva.

The number of new claims for unemployment benefits in the United States will continue to be millions in this week as a result of the corona crisis. In general, economists surveyed by Bloomberg expect 5 million Americans to file an aid application. With 15 million aid applications in three weeks, the world’s largest economy is likely to head for 10 percent unemployment in April.

The 6M Euribor increased with 1 basis point to -0.27% compared to previous business day. The 10Y Swap is unchanged at -0.04% 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.