Market information
Tuesday, May 22, 2012
Spain insists a big role for the European Central Bank (ECB) as part of its new strategy in order to stimulate growth in the Eurozone. Yesterday, the Spanish Prime Minister Mariano Rajoy declared that European leaders should increase their efforts to support financial stability. Tomorrow, European leaders will come together and discuss employment, investment and competitiveness related issues.
EU-president Herman Van Rompuy states in a letter to 27 European leaders that there is no standard solution to boost economic growth. Europe aims for sustainable growth and solutions are been sought in structural reforms.
AEX opens higher, until 292.89 points. Also other European markets open higher.
The Euribor 6M remained unchanged at 0.98%. The 10Y swap increased by 2 basis points to 1.99%.
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, May 21, 2012
Spokesman of the Ministry of Foreign Affairs of Japan, Naoko Saiki, announced Friday that Japan is willing to offer extra help in solving the European debt crisis. Naoko Saiki made his comments during the G8 meeting in Washington. In the approach of solving the European debt crisis, Japan has already made a significant contribution of USD 40 billion last month to the International Monetary Fund.
During the G8 meeting, the leaders of the 8 largest economies in the world indicated that they do not want Greece to leave the Eurozone. A departure of Greece from the Eurozone would cause the world economy a loss of many billions.
The new French president, Francois Hollande, indicated during the G8 meeting that he will come forward with proposals for the issuance of Eurobonds during the next EU summit on the 23rd of May. Hollande also indicated that he will exert pressure on Germany to eliminate the German veto against the issuance of Euro bonds or to the European Central Bank to lend money directly to countries in the Eurozone.
The 6M Euribor decreased by 1 basis point to 0.97%. The 10Y Swap increased by 2 basis points to 1.97%.
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, May 16, 2012
The Dutch economy contracted in the quarter of 2012 by 1.1% compared to the First quarter of 2011. This was announced by Statistics Netherlands (CBS) yesterday. The economy shrank by 0.2% compared to the last quarter of 2011. This was the third quarter of economic decline in a row; the Netherlands remained in an economic recession in the previous quarter.
The average Gross Domestic Product (GDP) in the euro zone remained unchanged in the first quarter of 2012, the growth was 0.0%. In the last quarter of 2011 the euro zone GDP contracted by 0.3%. This was announced by the European statistical office (Eurostat). This kept the economy in the eurozone from a technical recession; two consecutive quarters of contraction in a row. This is partly due to the unexpected strong economic growth in Germany.
Ongoing concerns about the political situation in Greece caused the major stock exchanges to decline. The Dow Jones closed at 12,632.00 with a loss of 0.50%, the S&P500 declined by 0.57% to 296.24. The AEX in Amsterdam ended the day with a loss of 0.61% at 296.24.
The 6M Euribor remained unchanged at 0.98%. The 10Y Swap decreased by 3 basis points to 1.95%.
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, May 15, 2012
The German economy has yet again surprised analysts with its strong growth. Germany’s GDP grew 0.5% in Q1, 2012, where analists were only expecting a growth of 0.1%. Germany showed once more a gap between the German economy on one side and the economies of France and Italy on the other side. The GDP of France did not grow at all and Italy’s GDP even dropped. Germany is the only country of the 4 biggest European economies (Germany, France, UK, Italy) that fully recovered since the crisis started in 2008.
According to Pacific Investment Management Co (Pimco), the annual growth of China in 2012 will be the lowest in 13 years. China’s GDP growth declined to 8.1% in Q1, this used to be 11.9% two years ago. In order to stimulate growth, the People’s Bank of China lowered the minimum reserve ratio with 50 bp. According to Australia & New Zealand Banking Group Ltd. this action should result in extra liquidity for banks of approximately 400 bln yuan (USD 63 bln).
To cope better with financial distress in the future, Dutch financial regulators have decided to increase financial reserves for corporations. The reserve, initiated 30 years ago will be increased from 1% till 5% of total rent in a EUR 12.5 bln sector.
The Euribor 6M remained unchanged at 0.98%. The 10Y swap decreased by 1 basis point to 1.98%.
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, May 14, 2012
As of next Friday, Chinese banks may decrease their reserves by a half percent. As a result of the measure, Chinese banks are able to lend more money and, according to the Chinese Central Bank, should provide a new impulse to the Chinese economy.
The political crisis in Greece has further increased over the weekend. For the third time the elected parties have failed to form a new coalition which has the capability to reform Greece. As a result of the failure, increasing probabilities for new elections in early June arise. According to the latest polls these elections would result in gains for parties that oppose the strong budget cuts of the current government and the requirements of the EU to receive financial aid.
As a result of the ongoing problems in Greece, the Euro/Dollar exchange rate has declined this morning to its lowest level in four months. The Euro/Dollar exchange rate fell for the first time since January below USD 1.29 and noted a rate of 1.2885 around 8:30 am this morning. The 10Y swap rate decreased this morning below 2 percent. Around 9 am, a 10-year swap contract noted 1.99500 percent.
The Euribor 6M remained unchanged at 0.98%. The 10Y swap decreased by 4 basis points to 1.99%.
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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