Market Information Wednesday 24 May 2017

Market Information Wednesday 24 May 2017

The World Steel Association reports that worldwide production of steel has increased by 5.0% in April 2017 compared to April 2016. Total production of steel in April 2017 was 142.1 million tonnes. China, responsible for over half of the steel production, reported an increase of 4.9% versus April 2016.

Credit rating agency Moody’s has decreased China’s credit rating from Aa3 to A1. Moody’s expects Chinese government debt to increase in the near future and economic growth to slow down. The credit rating agency changed China’s rating outlook from negative to stable.

The purchasing managers’ index for the United States industry decreased from 52.8 in April 2017 to 52.5 in May 2017. Analysts expected an increase of the index to a level of 53.0. The index for the US services sector did increase, from 53.1 in April to 54.0 in May.

The 6M Euribor remained unchanged at -0.25% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.84% 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 Tuesday 23 May 2017

Market information Tuesday 23 May 2017

Economic growth in the 35 countries of the Organization for Economic Co-operation and Development (OECD) has declined in the first quarter of 2017 compared to the last quarter of 2016. The growth rate in the first three months of 2017 in the OECD area was 0.4% on a quarterly basis, compared to 0.7% in the fourth quarter of 2016. The decline of the growth rate is amongst others caused by a slower growth rate in the U.S., France and Great Britain.

Economists expect the German index of business confidence to increase to 113.1 in May 2017. In April the German Ifo institute reported an index of business confidence of 112.9, the highest level in nearly six years. The final figures will be published today at 10:00 am.

Yesterday, the eurozone and the International Monetary Fund (IMF) failed to reach an agreement on new bailout funds for Greece. The IMF did not approve a new deal, as it believes Greece has an unsustainable debt position. In June a new meeting is scheduled to discuss the bailout program for Greece.

The 6M Euribor remained unchanged at -0.25% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.83% 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 22 May 2017

Market information Monday 22 May 2017

On Friday, credit rating agency Standard & Poor’s (S&P) confirmed the AAA credit rating. According to S&P strong economic results will have a positive effect on government debt levels. The credit rating agency expects economic growth to be 2.0% in 2017 and 1.7% in 2018. S&P does signal that the Netherlands is heavily dependent on its trade partners and is therefore vulnerable to external factors, such as increasing protectionism in many countries and the effects of Brexit.

The Saudi minister of oil stated that the countries that agreed in November 2016 on limiting the oil production, have reached an agreement to extend the lower production for 9 months. The new agreement will be ratified this week at the OPEC-meeting in Vienna. The previous limitation of the oil production did not lead to higher oil prices, as this was partly offset by higher oil production in the United States.

Destatis stated that producer prices in Germany have increased in April 2017 with 0.4% compared to the previous month. Analysts expected an increase of 0.2%. In March 2017, producer prices did not change compared to February 2017.

The 6M Euribor remained unchanged at -0.25% compared to previous business day. The 10Y Swap increased with 2 basis points 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 19 May 2017

Market Information Friday 19 May 2017

Figures published by the French statistics agency Insee show that unemployment in France decreased to 9.6% of the total workforce in the first quarter of 2017. The number of unemployed decreased to 2.7 million which is the lowest level since 2012. Youth unemployment remains high at 21.8%. In the fourth quarter of 2016 total French unemployment was 10%.

Yesterday, the Japanese statistics agency announced that the Japanese economy grew by 2.2% on a yearly basis in the first quarter of 2017, compared to the last quarter of 2016. Economists had expected a growth of 1.7%. The Japanese economy was supported by increased exports and domestic expenditures.

Dutch health care expenses have grown at a lower rate relative to the growth of the Dutch economy. The Dutch statistics agency CBS published figures which show that in 2016 health care expenses increased by 1.8%. Total expenses were approximately EUR 96 billion. Due to ageing of the population, it is expected that in future years health care expenses will increase by 2.5% to 3% on a yearly basis.

The 6M Euribor remained unchanged at -0.25% 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 Thursday 18 May 2017

Market Information Thursday 18 May 2017

At the end of 2016, the Dutch government debt was EUR 434 billion. Expressed as a percentage of GPD, government debt was 62.3%, while the European limit is 60%. The debt level is EUR 32 billion lower than was forecast in the Netherlands Budget Memorandum 2016. This is mostly caused by a lower-than-anticipated debt level in 2015 and an increase in the EMU balance.

Dutch entrepreneurs were more positive at the start of the second quarter than ever before. The business confidence indicator increased to 15.5 at the start of the second quarter of 2017. Entrepreneurs in the information and communication sector are particularly positive about the future; their confidence indicator increased to 23.4.

In April 2017 the annual inflation rate of the eurozone was 1.9%, new Eurostat estimates show. In March 2017 the annual inflation rate was 1.5%. Inflation in the entire European Union increased to 2.0% in April. The increase in the inflation rate is mostly the result of rising fuel prices.

The 6M Euribor remained unchanged at -0.25% compared to previous business day. The 10Y Swap decreased with 5 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.