Market Information Friday 27 June 2025

European Union leaders discussed new proposals from the United States on reaching a trade deal at a summit in Brussels on Thursday, with time running out for the bloc to find a common position before a tariff respite expires on July 9. Most countries seem to favour a quick deal to avoid further tariffs and compensate for disadvantages with redistribution measures. Germany and Belgium expressed support for the Commission’s efforts to swiftly reach a deal, warning that a trade war would harm both sides. Currently, EU exports face significant US tariffs, with further increases threatened by President Trump if no deal is reached by his July 9 deadline.

Trade negotiations between India and the US have stalled due to disagreements over tariffs on auto parts, steel, and agricultural products. India wants proposed tariffs reversed and existing ones reduced, but US negotiators have yet to agree. Hopes for a deal before Trump’s July 9 deadline have faded.

Chinese car manufacturers, including BYD, Chery Auto, and Great Wall Motor, are turning to Africa to expand, focusing on electric and hybrid vehicles. Challenges include low incomes, high import duties, unreliable electricity, and limited charging infrastructure. Nonetheless, these companies aim to use low prices and their foothold in South Africa as a springboard to conquer broader African markets.

The 6M Euribor is unchanged at 2.04% compared to previous business day. The 10Y Swap is unchanged at 2.57% 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.