European markets saw a rise yesterday. The Stoxx Europe 600 closed 1,2% higher at 436,35 and the French CAC 40 rose 1,8% to 6,369.94. The German DAX closed 2,2% higher at 13,929.11 points and the British GTSE closed just 0,5% higher at 7,193.47. This is in sharp contrast to last weekend’s escalation between Russia and Ukraine. In addition, there is growing concern among investors that the Russian economy is on the verge of collapse as a result of sanctions imposed by Western countries. Credit rating agency Fitch expects that Russia will not be able to pay off the debts that are due later this week.
In contrast to the European markets, the U.S. markets declined. The S&P500 fell 0,7% to 4,173.11 points and the Nasdaq lost even 2,0% to end at 12,581.22. Only the Dow Jones rose slightly and ended at 32,945.24 points. This decline results from the Federal Reserve’s interest rate meeting that will take place this week. It is expected to result in the first interest rate increase since 2018. According to analysts, interest rates will be raised by 0,25 percentage points due to the 8% inflation rate in the United States.
The price of a barrel of WTI oil fell by over 7%, reaching a price of USD 101. However, concerns about a possible rising price in the oil market are again increasing due to a large Omikron outbreak in China.
The 6M Euribor increased with 2 basis points to -0.41% compared to previous business day. The 10Y Swap increased with 11 basis points to 1.05% 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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