Market Information Monday 13 November 2023

In the third quarter of this year, both the economy and production in the United Kingdom remained unchanged compared to the previous quarter. Economists had anticipated a contraction of 0.1% for the overall economy. Additionally, production figures were revised slightly upward because of revised data for the month of October.

In September, according to the UK Office for National Statistics (ONS), British goods exports and imports declined. The export value decreased by 2.9% on a monthly basis, while imports decreased by 6.2%. As a result, the trade deficit for the three-month period ending in September decreased from £7.1 billion to £6.0 billion.

Moody’s has changed the outlook for the credit rating of the United States from stable to negative due to rising interest rates and doubts about the ability of the U.S. government to implement effective fiscal policies. A negative outlook implies a possible downgrade of the credit rating for ths U.S. Currently, the United States holds a ‘Triple A’ status with Moody’s, Fitch Ratings downgraded the U.S. credit rating from AAA to AA+ in August. S&P downgraded the AAA rating in 2011 following an earlier budgetary discussion and has since maintained an AA+ rating.

The 6M Euribor decreased with 1 basis point to 4.06% compared to previous business day. The 10Y Swap increased with 5 basis points to 3.19% 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.