Market Information Monday 18 November 2024

Gazprom announced stable gas flows of 42.4 mcm to Europe via Ukraine, despite plans to cut Austria’s supply due to a contractual dispute. Austria, which typically accounts for 40% of Russian gas via Ukraine, saw deliveries suspended, leaving Hungary and Slovakia as the main recipients. This marks a significant decline in Russian gas exports to Europe, down from pre-2022 levels when it supplied 40% of EU needs.

US treasury yields hit multi-month highs, with the 10-year yield reaching 4.5% after strong economic data dampened expectations of a Federal Reserve rate cut in December. Bond demand surged as equities declined, stabilizing yields and improving rate-cut odds to about 60%. Fed officials emphasize that future decisions depend on inflation and incoming data. Meanwhile, U.S. retail sales rose 0.4% in October, driven by strong auto and electronics purchases, with September data revised upward, reflecting robust consumer spending.

Health stocks declined sharply after President-elect Trump nominated vaccine skeptic Robert F. Kennedy Jr. to lead health agencies, sparking concerns about vaccine perception and uncertainty in the biotech sector. Companies like Moderna and Pfizer saw significant losses, while major drugmakers and global health stocks also retreated.

The 6M Euribor decreased with 1 basis point to 2.77% compared to previous business day. The 10Y Swap is unchanged at 2.29% 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.