Market Information Friday 22 March 2019

Market Information Friday 22 March 2019

Statistics Netherlands (CBS) stated that the volume of investments in tangible fixed assets in January was 4.9% higher than in the same month last year. Especially investments in residential real estate, offices and machinery increased significantly. Additionally, CBS mentioned that the conditions for investments in tangible fixed assets have improved with respect to the start of this year.

The European Commission (EC) stated that consumer confidence in the Eurozone has increased in March compared to February. The indicator, used by the EC to measure confidence in the economy by consumers, rose from minus 7.4 to minus 7.2 this month. Economist expected a level of minus 7.1.

The European Union is willing to delay the Brexit until 22 May, on the condition that the House of Commons votes to agree with the current withdrawal deal next week. If the MP’s do not approve the withdrawal deal next week, the EU will agree to a shorter delay until 12 April. This will also be the last chance to decide whether the British will participate in the European elections.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.58% 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.

Market Information Thursday 21 March 2019

Market Information Thursday 21 March 2019

With more than 93% of the votes counted, the new political party Forum for Democracy (FvD) seems to have gathered most votes during the Dutch Provincial Council elections. Additionally, the Greens (GroenLinks) have also gathered considerably more votes compared to the previous Provincial Council elections. Because of these election results, which indirectly decide in the seat allocation among parties in the Dutch Senate, the current coalition will lose its majority in the Dutch Senate.

The Federal Reserve has announced its decision not to increase the interest rates any further this year. This decision was made during a two-day policy meeting. In addition, the Fed published lower growth expectations. In 2019 and 2020 a growth is expected of 2.1% and 1.9%, respectively, while these numbers used to be 2.3% and 2%. Furthermore, the Fed announced a plan to stop reducing the portfolio of bonds, acquired during the quantitative easing, by September.

The British Office for National Statistics reported that inflation in the United Kingdom in February has increased to 1.9% on a annual basis, compared to 1.8% in January. The increase is mainly caused by increased prices of groceries, tobacco and computer games. The British central bank has set the inflation goal for this year at 2%.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.58% 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.

Market Information Wednesday 20 March 2019

Market Information Wednesday 20 March 2019

Eurostat reports that construction output in the Eurozone decreased with 1.4% in January, compared to the month before. In December an increase of 1.1% was reported. In the entire European Union, the construction output remained equal, after a decrease of 0.2% in December.

Additionally, Eurostat reports that labour costs per hour in the Eurozone increased with 2.3% in the fourth quarter of 2018, compared to the same period in the year before. For the entire European Union an increase of 2.8% is reported. The labour costs increased most in Romania, Latvia and Portugal with 13.1%, 11.8% and 10.3% respectively. Malta is the only country that reported a decrease, this decrease amounted 0.5%.

According to the Dutch Chamber of Commerce, more Dutch entrepreneurs have prepared themselves properly for the Brexit. The percentage of companies that is not properly prepared decreased to 17% in the first quarter of 2019, compared to 29% in the quarter before. Most entrepreneurs responded by creating additional stocks.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.59% 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.

Market Information Tuesday 19 March 2019

Market Information Tuesday 19 March 2019

Preliminary figures from Eurostat show that the export of the eurozone countries to the rest of the world has increased by 2.5% in January 2019 compared to the previous year. In January, the sum of exports amounted EUR 183.4 billion. The imports of the eurozone countries increased on a year-on-year basis by 3.4% to EUR 181.8 billion, resulting in a trade surplus of EUR 15 billion.

Eurostat stated that the amount of job offers in the eurozone has increased in the fourth quarter of 2018 compared to the third quarter. The percentage of job offers was 2.3% of the total demand for labor, compared to 2.1% in the previous quarter.

The Speaker of the British House of Commons, John Bercow, stated that the previously rejected Brexit proposal of the British government cannot be brought up for a vote again. The proposal is too much in line with the previous proposal. Bercow also stated that if the government wants to bring the proposal up for a vote again, significant changes have to be made.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.57% 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.

Market Information Monday 18 March 2019

Market Information Monday 18 March 2019

The industrial production in the US in February has increased with 0.1 percent on a monthly basis. According to the figures from the Federal Reserve. Economics expected on average an increase of 0.4 percent. In January the production in the US industry decreased with 0.4 percent. This number has been revised from the previously published decline of 0.6 percent.

Deutsche Bank has commenced talks with Commerzbank concerning a merger between the two banks. This would be one of the largest bank mergers ever realized. The combined balance sheet total would be the third largest in the Eurozone.

Consumer confidence in the US has increased in March compared to the previous month, according to preliminary results from the University of Michigan. The index that contains the sentiment from American consumers has increased from 93.8 to 97.8 in January.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap is unchanged at 0.59% compared to previous business day.

The following macro-economic figures will be published in the coming week:
• Balance Sheet Japan
• Consumer Price Index (CPI) United Kingdom
• Producer Price Index (PPI) United Kingdom
• Interest rate United Kingdom

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.