Market information
Thursday, September 02, 2010
A published poll under purchasing managers showed that the U.S. industry has performed surprisingly strong in August. According to the Institute for Supply Management the index that measures economic activity increased from 55.5 in July to 56.3 in August, while a decrease to 52.8 was expected. The positive figure represents a boost for the U.S. economy and a counterweight to other setbacks including the housing market. The employment index, a different part of the figure, increased to its highest level since 1983.
Yesterday also China published industrial figures. After three months of decreases the purchasing manager index increased with two points in August to a level of 51.9. The index now exceeds the level 50, which reflects the turning point between contraction and growth. According to a Chinese economist, the figure confirms that Chinese growth doesn’t collapse but continues at a moderate pace. Also India, Russia, France and Germany published positive purchasing manager indexes.
The positive figures from America and China resulted yesterday in a lust for sale to investors. The AEX was up 2.86% and closed at 325.52 points, the biggest gain since May 27. The interest rates also increased yesterday in response to the figures, like the 10-year Euro swap which increased with 6 basis points and now stands at 2.43%.
The 6M Euribor decreased by 1 basis point to 1.13%. The 10-year swap increased 6 basis points to 2.43%.
In the attachment below, 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: .(JavaScript must be enabled to view this email address).
Wednesday, September 01, 2010
Unemployment in the euro zone countries remains at 10.0% in July. Despite good macroeconomic figures for the first half of the year, the euro zone economy hasn’t managed to create more jobs.Euro zone inflation, measured by the consumer price index has decreased slightly. Compared to a year earlier, prices rose 1.6% during the year from August 2009. The same index for July resulted in a figure of 1.7%. The decline in the index is mainly due to cheaper oil. During August the price of oil dropped 9.6%.
The current average daily trade in foreign exchange contracts amounts to more than USD 4,000 billion. This figure was published by the Bank for International Settlements. In 2007 daily trade was at USD 3,300 billion a day. During this period deals with immediate delivery grew the fastest: almost 50% to USD 1,500 billion.
United States consumer confidence, as published by the Conference Board, has risen to 53.5 points. Analysts expected an increase to 50.7 points and a month ago the index was still at 50.4. The baseline (100 points) for the index is the confidence level of 1985.
The 6M Euribor remains at 1.14% and the 10Y swap increased 6 basis points to 2.37%.
In the attachment below, 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: .(JavaScript must be enabled to view this email address).
Tuesday, August 31, 2010
August figures show that both consumers and entrepreneurs have more confidence in the eurozone. Entrepreneurial confidence reached 101.8 in August compared to 101.1 in July. Consumer confidence reached -11 in August (-14 in July). The European Commission expected a consumer confidence of -11.7 and economists anticipated -12. According to the European Commission the increase in consumer confidence is the result of optimism about the general economic situation and a decline in concerns about unemployment.
Yesterday Japan announced to take further steps to stimulate domestic demand. The stimulus package totals JPY 920 billion (EUR 8.5 billion). The Japanese economy is suffering from persistent deflation. Simultaneously the Japanese yen appreciates against the euro and the US dollar. Last week the yen reached its highest level against the US dollar in fifteen years.
The Dow Jones started the week with a loss. The index closed the first trading day with a loss of 1.4% at 10,009.73 points. Part of the negative sentiment was caused by disappointing figures on US domestic income. Gross income increased slightly by 0.2% in July compared to June, but this was less than the 0.3% increase that economists expected.
The 6M Euribor remains unchanged at 1.14%. The 10Y Swap decreases with 8 basis points to 2.31%.
In the attachment below, 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: .(JavaScript must be enabled to view this email address).
Monday, August 30, 2010
In fear of the eurozone's withstand to the Global slowdown, this week the European Central Bank is expected to extend emergency support for eurozone banks until early next year. Even though eurozone growth is exceeding all expectations of the European Central Bank, the treat raising from the member countries suffering the most this year's crisis over public finances has enforced the central bank's cautious attitude. Investors are preparing for a week of crucial economic data which might determine the Federal Reserve's next steps. Attention will mainly focus on latest US employment figures. Continuous raise of unemployment is one of the possible triggers for the Fed to continue with quantitative easing by purchasing billions of dollars of long term assets such as Treasury bonds in effort to stimulate the economy. The 6M Euribor remained unchanged at 1.14%. The 10Y Swap increased with 4 basis points to 2.39%. In the attachment below, 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: .(JavaScript must be enabled to view this email address).
Friday, August 27, 2010
Continuing worries on global economic recovery and the revision of the American gross domestic product on Friday, dropped the Dow Jones below the 10.000 points. Initially the sentiment on the American stock markets was positive resulting from figures showing intitial jobless claims had fallen more than expected.
The AEX closed higher as a result of better than expected company results for, among others, TenCate and BAM on Thursday. Besides company results, an increasing figure on Dutch producer's confidence (from -2.4 in July to 0.4 in August) gave a further boost to the performance of the AEX. The AEX closed 0.8% higher at 314.
Stock markets turn more positive (after a sharp downturn in the beginning of this week), as a result of an increase in German consumer confidence figures. The euro advancing against the US dollar becomes more evident. The euro rose 0.5% to USD 1.2727 against the US dollar.
The 6M Euribor remained unchanged at 1.14%. The 10Y Swap decreased with 3 basis points to 2.35%.
In the attachment below, 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: .(JavaScript must be enabled to view this email address).
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