Market Information Thursday 17 November 2022

U.S. retail sales increased more than expected in October as households stepped up purchases of motor vehicles and a range of other goods, suggesting consumer spending picked up early in the fourth quarter, which could help to support the economy. The solid retail sales reported by the Commerce Department on Wednesday and signs of a slowdown in inflation raised cautious optimism the economy could avoid an anticipated recession next year or just experience a mild downturn.

Portugal expects economic growth of at least 6.7% this year, beating its 6.5% forecast on the back of domestic demand and tourism, helping the country further slash one of Europe’s heaviest public debt burdens, its finance minister told Reuters. Despite a negative outlook for European economies, he expected Portugal to avoid a contraction in the fourth quarter, thanks to an extra 2.4 billion euros ($2.5 billion) in aid for families since October to tackle inflation.

Grayscale Bitcoin Trust, the world’s largest bitcoin fund, fell almost 7% on Wednesday, as investors dumped more digital assets after last week’s high-profile unraveling of crypto exchange FTX. Crypto investment bank Genesis Global Trading said in a tweet it was suspending redemptions and new loan originations in the wake of FTX’s collapse, which has given cryptocurrencies another hammering this year.

The 6M Euribor decreased with 4 basis points to 2.30% compared to previous business day. The 10Y Swap decreased with 9 basis points to 2.72% 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.