Market Information Tuesday 8 March 2022

The European and American stock exchanges showed a big decline yesterday. The S&P500 dropped to 4,201.08 and lost 3.0%, the Dow Jones Index reached 32,817.38 points and decreased 2.4%. The Nasdaq lost as much as 3.6% and now stands at 12,830.96. European stock markets also closed lower, but to a lesser extent than in America. The Stoxx Europe 600 index fell 1.1% to 417.13 points, the German DAX declined 2.0% to 12,834.65. The French CAC 40 lost 1.3% and the British FTSE closed down just 0.4%. These stock market developments are related to the turmoil arising from the Russian-Ukrainian conflict. Carmignac even fears stagflation, which is a decline in the economy combined with high inflation.

Yesterday, in contrast to the stock markets, the price of oil rose sharply. Where a barrel of WTI closed with a settlement of USD 119.40, it briefly touched USD 130, which came from momentum for an import ban on Russian oil.

In Germany, retail sales in January went from a decline is December to an increase. The German statistics office Destatis reported that on a monthly basis, retail sales rose 2.0% in January, adjusted for inflation. On a year-on-year basis, the increase was even greater, where it was as much as a 10.3% increase from January last year. German factory orders rose faster than expected in January. Adjusted for seasonal effects, it rose by 1.8% on a monthly basis. This is a larger increase than expected by economists, who had counted on a 0.6% increase.

The 6M Euribor increased with 1 basis point to -0.48% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.73% 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.