The international capital markets were strongly influenced by economic data and central bank measures in August. In addition to the inflation figures, the ongoing corporate reporting season was also closely followed. Inflation data showed different trends. In the USA, inflation rates rose by 0.2 % to 3.2 % in July after previously falling. In the eurozone, inflation remained unchanged from the previous month at 5.3 %, whilst core inflation fell from 5.5 % to 5.3 %. China saw a 0.3 % drop in prices in July, adding to concerns about deflation. The rating agency Fitch caused short-term concern on the capital markets at the beginning of August when it downgraded the US credit rating from AAA to AA+. This was due to problems with the adoption of the budget and the increase in the debt ceiling. Although these problems were later resolved, this affected confidence in fiscal policy. Chinese economic growth was also weak, especially in the real estate sector, where problems arose at companies such as Evergrande and Country Garden. The Chinese central bank and financial regulator announced measures to help the industry. Overall, the international capital markets were influenced by a variety of factors, including inflation, central bank policy and economic developments in different regions of the world.

The bond markets were strongly influenced by developments in economic data and central bank monetary policy last month. Here are some key observations: Fears of in-terest rate hikes: Positive economic data led to concerns about interest rate hikes, as a stronger economy often brings higher interest rates. This caused bond prices to fall in the middle of the month and yields to rise. German government bonds: In Germany, economic data showed a weaker performance overall, which meant that the rise in the yield on 10-year bonds was not sustainable. The yield remained almost unchanged at around 2.46 %. USA: In contrast, the US showed better economic data which led to an increase in the yield of its 10-year government bonds. The yield rose above the 4 % mark and closed the month at around 4.09 %. These movements in yields reflect the different economic outlooks in the US and Germany. Whereas the USA is benefiting from a robust economic upswing, Germany is struggling with economic challenges. Overall, the coming weeks will be marked by uncertainty and potential volatility in the financial markets as monetary policy and economic data remain in focus. The performance of LiLux Rent recorded +1.92 % in the third quarter.