Market Information Tuesday 12 December 2017

Market Information Tuesday 12 December 2017

A survey published by the Federal Reserve Bank of New York concludes that there has been a decrease in expected unemployment in November. In October the probability of a rise in unemployment within a year was estimated at 36%, where now this has decreased to 33%. The survey also finds that in November inflation expectations remain stable at 2.61% and 2.78% for a period of one and three years respectively.

Reuters reports that the People’s Bank of China (PBOC) is injecting 150 billion Yuan into money markets today. The net effect of this injection will be 40 billion Yuan, as 110 billion Yuan will be injected temporarily. Last week the PBOC extracted 510 billion from the money market, which is the largest withdrawal in the past 10 months. The PBOC withdrew this large amount to stimulate financial deleveraging. The injection into money markets this week is aimed at preventing liquidity strains.

Yesterday, a crack was found in the British Forties North Sea pipeline, where after this pipeline was shut down. The shutdown of the pipeline decreases the oil supply, which already declined due to supply cuts led by OPEC countries. As a consequence, the Brent crude oil price is now 65 dollar per barrel, which is the highest price since June 2015.

The 6M Euribor remained unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.79% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.

Market Information Monday 11 December 2017

Market Information Monday 11 December 2017

In October 2017, exports from Germany increased with 6.8% compared to October 2016 to EUR 108.0 billion. The largest increase was due to exports to EU countries. Imports rose with 8.3% to EUR 89.1 billion in October 2017. As a result, the trade surplus of Germany decreased from EUR 24.1 billion in September 2017 to EUR 18.9 billion in October.

The US Department of Labor announced on Friday that the unemployment rate stabilized in November 2017 at 4.1% of the labor force. Overall, 6.6 million Americans were unemployed in November. In the past month, the US economy added 228,000 jobs. The professional services sector reported the largest jobs increase and has added over half a million jobs in the past 12 months.

This week, central bankers of the European Central Bank (ECB) and the Federal Reserve (Fed) will meet for the final time this year to discuss monetary policy. The ECB is expected not to change its monetary policy. Analysts expect the Fed to increase its Federal Funds Rate to a bandwidth of 1.25% to 1.50%, as the growth of the US economy is confirmed by the recent positive jobs report.

The 6M Euribor remained unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.80% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.

Market Information Friday 8 December 2017

Market Information Friday 8 December 2017

In October 2017, German industrial production decreased by 1.4% compared to September 2017, as announced by the German federal bureau of statistics based on seasonally adjusted numbers. Economists expected an increase of 0.9%. In September 2017, industrial production was 0.9% lower than in August 2017, better than the earlier estimate of -1.6%.

Final figures published by the European Statistical Office Eurostat show that the Eurozone economy expanded by 0.6% in the third quarter of 2017 compared to the second quarter of 2017. This is in line with an earlier estimate by Eurostat. Compared to the third quarter of 2016, the Eurozone economy expanded by 2.5%.

The number of requests for unemployment benefits in the United States has declined to 236,000 last week (calendar week 48) compared to 238,000 a week earlier (calendar week 47), as published by the American Department of Labor. Economists expected an increase to 240,000 requests for week 48.

The 6M Euribor remained unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.79% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu

Market Information Thursday 7 December 2017

Market Information Thursday 7 December 2017

Statistics Netherlands (CBS) announced that consumer prices increased by 1.5% in November 2017 compared to November 2016. In October 2017, consumer prices increased by 1.3% compared to October 2016. The increase was mainly caused by higher fuel and clothing prices.

The number of factory orders in Germany increased in October 2017 compared to September 2017. Where economists expected a decrease of 0.2%, the number of orders increased by 0.5%. In September 2017, the number of orders for German factories increased by a revised 1.2% compared to August 2017. An earlier estimate showed an increase of 1.0%.

In October 2017, retail sales in the Eurozone decreased 1.1% compared to September 2017, as announced by European Statistical Office Eurostat based on numbers corrected on seasonality. Economists expected a smaller decrease of 0.7%. In September 2017 retail sales in EU countries increased by 0.8% compared to August 2017.

The 6M Euribor remained unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.78% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu

Market Information Wednesday 6 December 2017

Market Information Wednesday 6 December 2017

According to market researcher Markit, business activity in the service sector in the eurozone has grown in November 2017. The Purchasing Managers Index (PMI), which reflects service activities, increased from 55.0 in October 2017 to 56.2 in November 2017. This increase is in line with expectations.

Yesterday, research institute ISM announced that business activity in the U.S. service sector has slowed down. The Purchasing Managers Index (PMI) decreased from 60.1 in October to 57.4 in November 2017. The decrease is higher than expected as economists forecasted a decrease to 59.0 in November 2017. Recent figures published by Markit also show a slowdown. Markit’s PMI decreased from 55.3 in October to 54.5 in November 2017.

Yesterday, the U.S. Commerce Department reported an increase of the U.S. trade deficit of 8.9% in October compared to September 2017. Recent figures show that the trade deficit increased from USD 44.9 billion in September 2017 to USD 48.7 billion in October 2017. The increase is amongst other caused by rising oil prices. Analysts expected a deficit of USD 47.5 billion.

The 6M Euribor remained unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.79% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.