Yesterday, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), stated that that IMF expects that next year global economic growth will be disappointing. In October, the IMF still forecast a growth of 3.6% in 2016. According to Lagarde, this is mainly caused by the prospects of rising interest rates in the US and an economic slowdown in China. Furthermore, the mid-term outlook has also weakened due to low productivity, ageing populations, and the effects of the financial crisis.
Puerto Rico will default on part of its debt. The country has announced that it will miss an interest payment of USD 37 million on 1 January 2016. The total amount of interest payments Puerto Rico has to make on 1 January is almost USD 1 billion. National debt of Puerto Rico is USD 70 billion, which is 67% of 2013 GDP.
Yesterday, the price of a barrel of WTI crude oil fell below USD 41. That is the lowest price in six years. Brent oil even fell toward its lowest price in eleven years. Yesterday’s decline is mainly due to an increase in American crude oil inventories. Last week, crude inventories rose by 2.6 million barrels, according to the US Energy Information Administration.
The 6M Euribor remained unchanged at -0.04%. The 10Y Swap remained unchanged at 1.00%.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: email@example.com.
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