Market Information Wednesday 8 December 2021

U.S. bank executives raised concerns about the impact of a sustained period of higher inflation, adding to pressure on the Federal Reserve to accelerate plans to slow down the pace of its asset purchases. At the Goldman Sachs Financial Services Conference, David Solomon (CEO Goldman Sachs) and Charlie Scharf (CEO Wells Fargo) questioned the policy that the Federal Reserve is currently following, as the Fed may need to move more quickly to address inflation concerns.

A group of 53 investors, managing 12.4 trillion USD in assets, called for governments and companies to accelerate the shift to promoting healthier food and drink to help fix what they described as a “global nutrition crisis”. The investors urged policymakers to use fiscal and regulatory measures to help support healthy packaged food and do more to meet the nutrition targets laid out by the World Health Organisation.

Yesterday, oil prices rose again, extending the previous day’s 5% rebound as concerns over the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Oil prices declined last week by concerns that vaccines might be less effective against the Omicron variant.

The 6M Euribor is unchanged at -0.54% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.11% compared to previous business day.