Market Information Monday 8 November 2021

In October, exports of Chinese goods rose faster than anticipated, according to data from the Chinese government. Exports increased by 27.1 percent and imports increased by 20.6 percent in October, after a 17.6 percent increase in September. China’s trade surplus stood at $84.54 billion in October, its highest level ever.

The United States House of Representatives has voted in favour of Joe Biden’s infrastructure plans, who can now sign the bill for implementation. The plan is to spend about $1 trillion on improving roads and bridges, the electrical grid, building charging stations and expanding broadband internet in the US. The plans were accepted by 228 to 206, including 13 Republicans. There were six progressive Democrats who voted against. Biden has been under pressure over the past week after Democrats lost the Virginia governorship election. A big part of Biden’s Build Better Act is also to tackle climate problems and provide more social security to Americans.

On Friday, the oil price rose after several days of declines. The price of a barrel of West Texas Intermediate increased about 3 percent at $81.27. WTI lost nearly 3 percent on a weekly basis. The decrease is partly due to reports that the United States wants to use its strategic reserves to increase the supply and, in this way, to lower oil prices. Analysts report that this could lead to a further correction, but fundamentally there can be no discussions regarding there being a bull market yet.

The 6M Euribor is unchanged at -0.54% compared to previous business day. The 10Y Swap decreased with 5 basis points to 0.10% 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.