Market Information Wednesday 13 July 2022

Yesterday, world stocks traded mixed as oil prices and bond yields dipped as traders fretted over prospects of further central bank tightening and worries about the health of economies worldwide.

The US dollar’s role as the safe-haven go-to currency for investors concerned about the economic outlook has been burnished in recent weeks, with the U.S. currency roaring to two-decade highs against multiple currencies, while the euro sank to within a whisker of parity with the US dollar.

Nomura expects major developed market central banks to start cutting interest rates next year as inflation eases and expected recessions linger, with peak rates expected to be hit this year. The Japanese bank’s economists expect the U.S. Federal Reserve rate hikes to peak at 3.50-3.75% in February next year, despite an expected recession starting in the fourth quarter.

The 6M Euribor increased with 5 basis points to 0.37% compared to previous business day. The 10Y Swap decreased with 11 basis points to 1.97% 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.