Market Information Wednesday 29 April 2020

U.S. consumer confidence fell 31.9 points to 86.9 in April, according to the Conference Board report released on Tuesday. The subindex, based on consumers’ short-term outlook for income, business and labor market conditions, increased by seven points to 93.8, indicating that consumers see the impact of corona as temporary. “Consumers’ short-term expectations for the economy and labor market improved, likely prompted by the possibility that stay-at-home restrictions will loosen soon, along with a re-opening of the economy,” according to Lynn Franco, senior director of economic indicators at the Conference Board.

The European Union announced a proposal to loosen the leverage ratio for banks on Tuesday. The proposal aims to reduce the amount of capital required by banks and allows them to deviate from strict financial and accounting rules during the corona crisis. The relaxation of the rules is caused by “exceptional circumstances” according to European Commissioner Valdis Dombrovskis and will apply until the end of 2021.

U.S. exports and imports fell to the lowest level in three years in March, according to data released by the Commerce Department on Tuesday. Goods exports decreased by 6.7 percent compared to February, the sharpest decline since 2008. Imports of cars and consumer goods decreased by 2.4 percent. The trade deficit increased to $ 64.2 billion in March.

The 6M Euribor decreased with 1 basis point to -0.15% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.07% 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.