Market Information Wednesday 26 October 2022

House prices in the largest urban regions of the United States (US) declined on a monthly basis in August, while on a year-on-year basis growth slowed down. This was revealed by Standard & Poor’s Case-Shiller figures on Tuesday. House prices in the 10 largest regions decreased by 1.6% on a monthly basis, compared with a 0.9% decline in July. On a year-on-year basis, prices increased by 12.1% in August, following an increase of 14.9% a month earlier. The top 20 regions also show a 1.6% month-on-month decline in August, after a 0.8% decline in July. On a year-on-year basis, house prices in the top 20 regions increased by 13.1% in August. That was 16% in July.

Oil prices increased on Tuesday, after a decrease on Monday after concerns about tight supply came to the fore again. US natural gas futures increased sharply. The December futures for a barrel of West Texas Intermediate crude oil increased by 0.9% to USD 85.32 on the New York Mercantile Exchange. US natural gas futures also increased sharply, as they did on Monday, after decreasing by 23% last week. November futures increased by 8,0% to USD 5.613 per million British heat units. European November futures increased slightly to exactly EUR 100.00. As recently as August, the future reached an unprecedented high at EUR 349, when major natural gas shortages in Europe were threatened by the closure of the NordStream pipelines for Russian gas.

The German business climate decreased very slightly in October. This was revealed on Tuesday by figures from the Ifo research institute. The Ifo index for German business climate for industry and trade decreased to 84.3 this month from a revised 84.4 in September. This is the lowest reading since May 2020. However, economists had previously counted on an index decrease to 83.6. The sub-index for the current situation registered at 94.1 and for future development, the sub-index stood at 75.6.

The 6M Euribor increased with 2 basis points to 2.13% compared to previous business day. The 10Y Swap decreased with 16 basis points to 3.01% 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.