Market Information Monday 9 May 2022

Following the lead of the United States, the G7 has decided to boycott Russian oil. This was announced on Sunday after a meeting of the G7 countries, to which Volodimir Zelensky was also invited. In this way, the G7 is trying to disrupt the financing of the Russian war in Ukraine. The 7 countries will jointly ensure a stable global energy supply.

On Monday, the market will pay attention to China’s trade balance. A day later, Dutch inflation and industrial production figures follow. Inflation figures are scheduled for mid-week in Germany, the US and China. These are relevant for the interest rate policy of the central banks. On Wednesday, further attention will be paid to US oil stocks. Finally, a French inflation figure will follow on Friday.

China’s export growth slowed to single digits in April, while imports were unchanged as tighter and wider COVID-19 restrictions halted factory production, disrupted supply chains and triggered a collapse in domestic demand. Exports in dollar terms grew 3.9% in April from a year earlier, compared with the 14.7% growth reported in March and slightly surpassing analysts’ forecast of 3.2%.

The 6M Euribor is unchanged at -0.21% compared to previous business day. The 10Y Swap increased with 11 basis points to 1.93% 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.