Market Information Wednesday 21 August 2024

In the first half of 2024, global investments in fintech declined from €56 billion to €47 billion, according to a report by KPMG. The decline was most pronounced in Europe, the Middle East, and Africa, where investments dropped from €17.5 billion to €10.3 billion. The number of large deals over $1 billion also decreased, with only five deals during this period. KPMG cites geopolitical uncertainty and high interest rates as major reasons for investors’ caution.

The Swedish Riksbank has lowered interest rates again on Tuesday, after a pause in June, by 25 basis points to 3.50 percent as inflation stabilizes. However, the bank warns of uncertainties in inflation forecasts and highlights weak economic growth. If inflation remains stable, the Riksbank may consider two to three more rate cuts this year.

Producer prices in Germany fell less sharply in July than in June, with a 0.8 percent year-on-year decline, compared to 1.6 percent in June. Energy prices dropped by 4.1 percent in July, compared to 5.9 percent in June. On a monthly basis, producer prices increased by 0.2 percent in July, the same as in June, with energy prices rising by 0.5 percent.

The 6M Euribor increased with 4 basis points to 3.41% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.46% 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.