Credit rating agency Moody’s has become more negative on the UK banking sector. Moody’s has cut its outlook on British banks from stable to negative. The deteriorating operating environment has a negative impact on their asset quality and profitability. Additionally, the financial institutions are affected by low interest rates and increasing competition on the mortgage market.
United States (US) President Donald Trump signalled he would be willing postpone signing a trade agreement with China until after the US presidential elections in 2020. Trump announced, before the NATO-summit in the UK, that he does not have a deadline for a deal with China. The announcement increases the possibility of new US trade tariffs on 15 December 2019 on USD 160 billion worth of goods from China.
Producer prices in the Eurozone increased by 0.1 percent in October 2019 compared to the previous month, according to figures published by the European statistics bureau Eurostat. In September prices also increased by 0.1 compared to the previous month.
The 6M Euribor decreased with 1 basis point to -0.35% compared to previous business day. The 10Y Swap decreased with 6 basis points to 0.06% 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.
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