Market Information Wednesday 9 March 2022

Analysts do not expect the European Central Bank (ECB) to take any major steps tomorrow to tackle high inflation. This will only be a postponement, however, as the ECB cannot avoid tightening policy once the war settles in Ukraine, analysts believe. The war in Ukraine brings additional uncertainty about economic growth and inflation.

Yesterday, nickel trading on the London Metal Exchange was suspended. As a result of the war in Ukraine, the price of the metal has increased as much as 250% in recent days. The price of a tonne of nickel even surpassed 100,000 USD yesterday, while the price was still around 20,000 USD at the beginning of the year.

The war in Ukraine causes a lot of turmoil in the commodity and currency markets yesterday. Companies in the energy sector in particular managed to record considerable profits. At the end of the day, the S&P 500 fell 0.7% to 4170.67 points, the Nasdaq lost 0.3% to 12,7985.55 points and the Dow Jones fell 0.6% to 32,631.72 points.

The 6M Euribor increased with 3 basis points to -0.45% compared to previous business day. The 10Y Swap increased with 11 basis points to 0.84% 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.