Market Information Thursday 22 September 2022

US stock markets closed lower on Wednesday after the Fed again aggressively raised interest rates. Everything on Wednesday was dominated by the Federal Reserve’s interest rate decision. In line with expectations, the US central bank raised its key interest rate, the federal funds rate, by 75 basis points to a range of 3.00% to 3.25%. The leading S&P 500 index fell 1.7% to 3,789.89 points, the Dow Jones index lost 1.7% at 30,183.71 points and the Nasdaq was 1.8% lower at 11,220.19 points.

Governments in Europe have earmarked nearly 500 billion euros in the last year to cushion citizens and companies from soaring gas and power prices, according to research published by think-tank Bruegel on Wednesday. Months of surging prices have seen governments roll out measures to curb retail power prices, slash energy taxes and give subsidies to bill-payers. The EU’s 27 countries have collectively allocated EUR 314 billion for measures to ease the pain, while Britain has set aside EUR 178 billion, according to Brussels-based Bruegel.

U.S. natural gas futures jumped about 4% to a near one-week high on Wednesday, on forecasts for stronger U.S. gas demand this week than previously expected and renewed worries about a possible U.S. rail strike. A rail strike could boost demand for gas by threatening coal supplies to power plants.

The 6M Euribor is unchanged at 1.74% compared to previous business day. The 10Y Swap is unchanged at 2.69% 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.