President of the Federal Reserve stated in a speech that the corona crisis may cause lasting damage to the US economy. According to Powell, the economic outlook is extremely uncertain as the unemployment rate and bankruptcy rates have risen to high levels in recent months. Powell further emphasized that the Fed wants to stay away from negative interest rates, but that further fiscal support would help prevent long-term economic damage.
Eurostat figures show that eurozone industrial production fell sharply in March 2020. Production declined by 11.3% on a monthly basis as a result of the corona crisis. In February 2020, industrial production in euro countries declined by a revised 0.1%.
The German federal statistical office Destatis has published final figures that show that inflation in Germany in April 2020 was 0.9% year-on-year. Inflation was therefore slightly above the provisional figure of 0.8%. In March 2020, inflation was at 1.4%. Based on the European harmonized measuring method, German inflation in April 2020 was 0.8%.
The 6M Euribor is unchanged at -0.15% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.15% 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.
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