Market Information Thursday 4 November 2021

Employment in the private sector in the United States rose more than expected in October. This was shown Wednesday by figures from the payroll processing company ADP. The number of jobs increased in October by 571,000. In advance, an increase of 395,000 jobs was expected. In September, the number of jobs increased by 523,000. Initially, ADP expected a growth of 568,000 jobs for that month. In August, employment in the private sector increased by 310,000 jobs.

Unemployment in the eurozone fell last September, according to new Eurostat figures. In September, the unemployment rate dropped to 7.4%, while in August it was 7.5%. A year earlier, in September 2020, unemployment in the eurozone stood at 8.6%.

European Central Bank (ECB) President Christine Lagarde said in a speech on Wednesday that it is unlikely that the conditions for an interest rate increase would be met next year. Lagarde said that “despite the current inflation surge, the outlook for inflation over the medium term remains subdued, and thus these conditions are very unlikely to be satisfied next year”. On the ECB’s buying programmes, Lagarde said that “an undue tightening of financing conditions is not desirable at a time when purchasing power is already being squeezed by higher energy and fuel bills, and it would represent an unwarranted headwind for the recovery”.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap is unchanged at 0.21% 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.