Market Information Thursday 10 February 2022

German exports rose in December, but not as fast as imports. This was reported by the German statistical office Destatis on Wednesday. Exports increased by 0.9% on a monthly basis. Imports increased by 4.7%. On an annual basis, exports increased by 15.6% in December. Imports rose by 27.8%. The German trade balance, or the sum of exports and imports, showed a seasonally adjusted surplus of EUR 6.8 billion in December. This was expected to be EUR 12.8 billion. In the whole of 2021, this was EUR 173.3 billion.

The Japanese government is sending additional ships with liquefied natural gas (LNG) to Europe after many requests from the United States and Europe to help out. Due to the ongoing tensions between Ukraine and Russia, the price of gas has increased sharply in recent months, with fears that if it escalates, it could lead to further disruptions in gas supplies from Russia. Additional supplies from Japan will provide some relief on the currently tight gas market.

Wholesale inventories in the United States rose more than expected in December. This was announced by the US Department of Commerce on Wednesday. On a monthly basis, stocks increased by 2.2%. The first estimate was still based on an increase of 2.1%. In November, wholesale inventories increased by a revised 1.7%. The year-on-year increase in stocks in December was as high as 18.5%. Wholesale sales increased 0.2% month-on-month in December. Compared to December 2020, there was an increase of 21.8%.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap decreased with 4 basis points to 0.73% 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.