Market Information Wednesday 22 December 2021

The Turkish lira has appreciated significantly after President Erdogan’s government announced measures to strengthen the currency on Monday evening. The lira, which hit a low of about 18.4 lira against the US dollar earlier on Monday, rose sharply after the speech. The increase continued on Tuesday. The lira is now worth 40% more than Friday.

According to the Investment Radar of the Statistics Netherlands (CBS), the conditions for investments have become less favourable. CBS saw three out of five indicators for the investment climate deteriorate and points to a fall in consumer confidence, lower growth in exports and a smaller annual increase in the market value of companies.

UK shares rebounded on Tuesday though investor fears lingered over the prospect of renewed restrictions amid a surge in the Omicron variant cases just days before the Christmas holidays. UK Prime Minister Boris Johnson said on Monday he would tighten coronavirus curbs to slow the spread of Omicron if needed, after the Netherlands began a fourth lockdown and as other European nations consider additional restrictions.

The 6M Euribor is unchanged at -0.55% compared to previous business day. The 10Y Swap increased with 6 basis points to 0.19% 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.