The Bank of England stepped into Britain’s bond market on Wednesday to stem a market rout, pledging to buy 65 billion pounds ($69.4 billion) of long-dated gilts after a government fiscal statement triggered the biggest sell-off in decades. Citing potential risks to UK financial stability, the BoE also said it would delay the start of a program to sell its 838 billion pounds ($891 billion) of government bond holdings, which had been due to begin next week.
The average interest rate on the most popular U.S. home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs to curb high inflation. The average contract rate on a 30-year fixed-rate mortgage rose by 27 basis points to 6.52% for the week ended Sept. 23, a level not seen since the financial crisis.
The Dow and the S&P 500 indexes gained in volatile trading on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, while losses in Apple Inc after it dropped plans to boost iPhone production weighed on the Nasdaq. The 6M Euribor increased with 5 basis points to 1.85% compared to previous business day. The 10Y Swap decreased with 6 basis points to 3.10% 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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