Market Information Thursday 03 September 2026

The Swiss government has appointed Christoph Ammann as the new president of the Swiss National Bank’s Bank Council, the body responsible for overseeing and controlling the central bank’s business conduct. The appointment will take effect on 1 May 2027, when the current president steps down after reaching the maximum term in office. Ammann has served on the Bank Council since 2019. The Bank Council supervises compliance with legislation, regulations and directives, but does not determine monetary policy.

The US national debt has exceeded $40 trillion during the first 19 months of President Trump’s second term, despite campaign promises of fiscal restraint. Rising spending, higher borrowing costs and a costly conflict with Iran have added pressure to public finances. According to congressional and budget experts cited in the article, recent tax and immigration legislation added $4.7 trillion to projected debt. Economists warn that growing deficits may eventually require tax increases, spending cuts, or reforms to entitlement programmes.

China is expected to maintain refined fuel exports at just over 4 million metric tons in September, broadly unchanged from August, as authorities continue easing export restrictions introduced earlier this year. Strong international margins, particularly for diesel and jet fuel, are encouraging refiners to export despite previous measures aimed at safeguarding domestic supplies. Higher Chinese exports could increase fuel availability across Asia and help limit regional price gains, while additional export quotas are anticipated in the coming months.

The 6M Euribor increased with 1 basis point to 2.78% compared to previous business day. The 10Y Swap increased with 1 basis point to 3.41% 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.