Market Information Monday 7 March 2022

Capital markets will again be determined by the developments in and around Ukraine, while the market continues to pay attention to the European Central Bank as it convenes Thursday. According to Bank of America, European equities are unattractive at the moment. It will be a busy week macro economically. Monday starts the week with Chinese export figures. A day later, the United States follows with these figures. On Thursday, the focus will mainly be on the interest rate decision of the European Central Bank. Finally, on Friday, German inflation figures will be published.

China aims for economic growth of about 5.5 percent by 2022. This is remarkable considering this is the lowest growth target in 30 years. The growth target is still higher than most economists had expected and also more than the World Bank and the IMF anticipated. The Chinese government will give considerable incentives to achieve this target. Prime Minister Keqiang said he wants to work on China’s economic stability this year.

European stocks open sharply lower on Monday, as the attack on Ukraine continues, safe havens such as the dollar rises and the oil price explodes. The shooting of a Ukrainian nuclear power plant is considered a sign that Putin is not yet inclined to step back.

The 6M Euribor increased with 1 basis point to -0.49% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.72% 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.