Market Information Tuesday 14 February 2023

Eurozone economic growth is likely to be stronger than expected this year while inflation will be lower than previous forecasts published at the end of 2022, the European Commission said on Monday. The EC expects economic growth in the 20 countries using the euro to be 0.9% this year, rather than the 0.3% predicted last November.

Oil prices fell on Tuesday after the U.S. government reported it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers. Brent crude futures fell by 70 cents, or 0.81%, to $85.91 per barrel while U.S. crude futures fell by 93 cents, or 1.16%, to $79.21 per barrel.

The number of bankruptcies fell again in January after four consecutive months of increases. This was reported by the Statistics Netherlands (CBS) on Monday. In January 2023, 35 fewer companies were declared bankrupt than in December 2022, according to CBS, a decrease of 13%. After August 2022, the number of bankruptcies increased for four consecutive months to the highest level after May 2020 but remained relatively low.

The 6M Euribor decreased with 2 basis points to 3.08% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.91% 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.