Market Information Wednesday 15 December 2021

Gas prices have closed at a new record high, amid tensions with Russia. The gas price ended 12% higher on Tuesday than on Monday, bringing a megawatt hour of gas to a price of 130 EUR. At the beginning of October, the intraday price rose to a high of 162 EUR per MWh, but fell back at the time due to reassuring messages from Putin.

The Ifo-Institut in Munich and the Institut für Wirtschaftsforschung Halle (IWH) state that the German economy will grow less rapidly next year than previously forecast. The prominent German economic institutions, respectively, say the German economy will grow by 3.7% and 3.5% versus previous forecasts of 5.1%. Compared to the previous quarter, the German economy will contract by 0.5% in the last quarter of 2021.

New data on the US economy suggest that inflation will be at high levels for a longer period of time and possibly even increase, due to persisting disruptions in supply chains. The US Ministry of Labor said that the consumer price index rose 9.6% year-to-year, which is the largest increase since November 2010. Last Friday, the US consumer price index saw its largest daily increase in 40 years.

The 6M Euribor decreased with 1 basis point to -0.55% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.10% 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.