Major U.S. banks expect an economic recession in 2023 for the United States, according to The Wall Street Journal. Of the economists at 23 major financial institutions that deal directly with the Federal Reserve, more than two-thirds predict that the U.S. will enter a recession in 2023. Two economists predict a recession in 2024.
At the start of the new year, the weak dollar remains the dominant topic for the currency market. Investors believe the Federal Reserve will delay interest rate hikes and eventually will cut interest rates again. This was stated by currency specialist Ulrich Leuchtmann of Commerzbank.
Eurozone manufacturing contracted less in December. This was revealed on Monday by final figures from S&P Global. The purchasing managers’ index for manufacturing rose to 47.8 in December from 47.1 in November, the highest reading in three months.
The 6M Euribor decreased with 4 basis points to 2.69% compared to previous business day. The 10Y Swap decreased with 13 basis points to 3.07% 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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