Market Information Tuesday 13 oktober 2020

With a slow economic recovery from the corona pandemic, the full recovery of global energy demand is not likely to be expected until 2025. This is what the International Energy Agency (IEA) predicts. According to the IEA, global energy demand will decrease by 5% this year. With a corona vaccine, the demand for energy could increase again in 2021 and recover as early as 2023, but if the economic recovery slows down even further, that timeline will be pushed back two years.

The UK economy grew by 2.1% in August compared to the previous month. Economists predicted an average GDP increase of 4.6% for August compared to July. The recovery is therefore disappointing, after the historic impact of the corona pandemic this spring. The UK National Statistical Office points out that the UK Gross Domestic Product (GDP) is still 9.2% below its February 2020 level.

Inflation in Germany reached minus 0.2% year-on-year in September. In August, inflation levelled at 0.0%. This was reported by the German Federal Statistical Office on the basis of a final figure, which is in line with an earlier estimate.

The 6M Euribor is unchanged at -0.49% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.23% 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.