Market Information Thursday 21 November 2024

The European Central Bank (ECB) warns of a potential Eurozone debt crisis due to low growth, high debts, and policy uncertainties affecting countries like Italy, Spain, and France. Its Financial Stability Review highlights risks concerning sovereign debt sustainability and rising government funding costs from weak productivity and macroeconomic shocks. The ECB also cautions about overvalued equity markets, potential asset bubbles, and financial challenges for banks amid higher consumer and corporate debt.

London is driving a surge in UK rental costs, with rent increases reaching 10.4% in October due to high demand and reduced offerings. Average monthly rent in London hit a record high of £2,200, as landlords face higher interest rates and rising costs. Nationwide, rent growth is accelerating, contributing to affordability challenges, especially for first-time buyers facing elevated mortgage rates.

Uganda plans to start operating the world’s longest heated oil pipeline by 2027, despite financing delays caused by protests, with drilling having already begun. The $4 billion pipeline will allow Uganda to export oil through Tanzania, but it faces criticism for potential environmental and community impacts. Uganda’s energy minister defends the project as a means to boost economic development while acknowledging the need to address climate change challenges.

The 6M Euribor is unchanged at 2.74% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.35% 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.