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Government bonds | 27-Jan-22 | Mar-23 | Jun-23 | Sep-23 | Dec-23 | Mar-24 | Jun-24 | Sep-24 |
---|---|---|---|---|---|---|---|---|
USD | ||||||||
2yr yield: % | 4.19 | 4.30 | 4.40 | 4.00 | 3.85 | 3.50 | 3.30 | 3.00 |
10yr yield: % | 3.53 | 3.60 | 3.85 | 3.65 | 3.50 | 3.30 | 3.30 | 3.25 |
EUR (bunds) | ||||||||
2yr yield: % | 2.57 | 2.60 | 2.75 | 2.25 | 2.00 | 1.75 | 1.50 | 1.25 |
10yr yield: % | 2.21 | 2.30 | 2.50 | 2.00 | 1.80 | 1.80 | 1.75 | 1.50 |
GBP | ||||||||
2yr yield: % | 3.44 | 3.60 | 3.50 | 3.25 | 3.00 | 2.75 | 2.50 | 2.50 |
10yr yield: % | 3.31 | 3.40 | 3.40 | 3.30 | 3.25 | 3.10 | 3.00 | 2.75 |
JPY | ||||||||
2yr yield: % | -0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
10yr yield: % | 0.47 | 0.50 | 0.50 | 0.50 | 0.50 | 0.60 | 0.60 | 0.60 |
Source: Bloomberg, Emirates NBD Research.
Interbank market | 27-Jan-22 | Mar-23 | Jun-23 | Sep-23 | Dec-23 | Mar-24 | Jun-24 | Sep-24 |
---|---|---|---|---|---|---|---|---|
SOFR | 4.80 | 5.27 | 5.27 | 5.02 | 4.77 | 4.52 | 4.27 | 4.27 |
SOFR 3M | 4.31 | 4.80 | 4.80 | 4.55 | 4.30 | 4.05 | 3.80 | 3.80 |
AED 3M EIBOR | 4.67 | 5.09 | 5.09 | 4.84 | 4.30 | 4.05 | 3.80 | 3.80 |
Source: Bloomberg, Emirates NBD Research.
Policy rates | 27-Jan-22 | Mar-23 | Jun-23 | Sep-23 | Dec-23 | Mar-24 | Jun-24 | Sep-24 |
---|---|---|---|---|---|---|---|---|
Fed Funds target rate (upper bound) | 4.50 | 5.00 | 5.00 | 4.75 | 4.50 | 4.25 | 4.00 | 4.00 |
ECB (Deposit Rate) | 2.00 | 3.00 | 3.50 | 3.50 | 3.25 | 3.00 | 2.75 | 2.50 |
BoE (Bank Rate) | 3.50 | 4.25 | 4.50 | 4.50 | 4.25 | 4.00 | 3.75 | 3.50 |
BoJ (Policy Balance Rate) | -0.10 | -0.10 | -0.10 | -0.10 | -0.10 | -0.10 | -0.10 | -0.10 |
SNB (Policy Rate) | 1.00 | 1.00 | 1.25 | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 |
RBA (Cash Target Rate) | 3.10 | 3.60 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 | 3.85 |
RBI (Repo Rate) | 6.25 | 6.75 | 6.75 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
SCB (Reverse Repo) | 4.50 | 5.00 | 5.00 | 4.75 | 4.50 | 4.25 | 4.00 | 4.00 |
CBUAE (Base Rate) | 4.40 | 4.90 | 4.90 | 4.65 | 4.40 | 4.15 | 3.90 | 3.90 |
CBK (O/N Discount Rate) | 4.00 | 4.00 | 4.00 | 3.75 | 3.50 | 3.25 | 3.00 | 3.00 |
CBB (O/N Deposit Rate) | 5.00 | 5.50 | 5.50 | 5.25 | 5.00 | 4.75 | 4.50 | 4.50 |
CBO (O/N Repo Rate) | 3.00 | 5.50 | 5.50 | 5.25 | 5.00 | 4.75 | 4.50 | 4.50 |
CBE (O/N Deposit Rate) | 16.25 | 19.25 | 19.75 | 19.75 | 19.75 | 19.25 | 18.75 | 18.75 |
Source: Bloomberg, Emirates NBD Research.