Market Information

Market information

Friday, February 26, 2010

Dutch insurers need to attract billions of extra funding in order to comply with the current proposal of the new international capital requirements (Solvency II). Precise figures on the consequences cannot be given, because Solvency II is still under construction. But if the stricter capital requirements are implemented according to the current proposal, premiums are expected to increase.

Also, a last attempt to solve the Icesave dispute has failed. Dutch negotiators who worked on a solution together with a British and Icelandic delegation , returned without a deal from London.

Worries over the Greek public dept and disappointing economic figures from the United States caused a decrease in stock quotes on the European as well as the American stock exchanges.

The euro decreased again against the US dollar. The main reason is the threat by credit rating agencies to decrease the rating of Greece.

The 6M Euribor is unchanged at 0.96% and the 10Y Swap increased by 4 bp to 3.47%.

Marktinformatie 26 februari 2010Download market data

Thursday, February 25, 2010

Orders for manufactured goods rose 0.8% from November 2009 to December 2009 in the euro zone. The year on year rise was 9.5%. This rise was mainly due to a rise in the demand for machinery and other capital goods. The increase in orders for manufactured goods is attributed by economists to the declining euro, as compared to the yen and the dollar, in combination with a recovering global economy.

Both Standard & Poor's and Moody's have announced that they will reduce their rating of Greek credit in the near future. S&P said it will probably lower its BBB+ by the end of March and Moody's will lower its A2 rating in the coming months. The price of capital insurance on Greek debt for 5 years (CDS) rose 34 basis points to 384 as a consequence of these announcements.

The president of the Federal Reserve, Ben Bernanke, said Wednesday that the recovery of the American economy is not yet durable. Because of this Bernanke wants to keep the interest rate around 0%. Bernanke states that the recovery of the labor market is still frail but that the outlook for the future is positive.

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)

Marktinformatie 25feb 2010Download market data

Wednesday, February 24, 2010

The consumer confidence in America has unexpectedly decreased in February. Analysts expected a small decrease, but in reality the index decreased from 55.9 to 46, the lowest level since April last year. This unexpected decrease caused a worldwide decrease in the stock markets.

In America the number for new home sales over January is announced today. Analysts expect an increase from 342 thousand to 353 thousand.

After a week of increase, the price of a barrel of crude oil is decreasing this week. From 77.82 in the beginning of the week to 76.38.

The 6M Euribor decreased by 1 basis point to 0.96% and the 10Y Swap decreased with 8 basis points to 3.37%.

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).

Market information 24 February 2010Download market data

Tuesday, February 23, 2010

Monday the 'Centraal Plan Bureau (CBS)' published the consumer confidence index, the long-term average of the index is around zero. This month the index decreased to -13, in the past year the index was -10. Michiel Vermeer, chief economist of the CBS, suspects that the decrease of the index is, among others, due to the stock quotes and the uncertainty surrounding the government finances of Greece. This afternoon the consumer confidence index of the US will be published. In the past month the index was 55.9, economists expect a decrease to 55.0.

Figures of the CBS and the land registry show that the decrease of the house prices are reduced. Past years the prices decreased every month, while in the past four months decreasement has reduced. The CBS carefully speaks of a stabilization.

After gold, prices of silver also increased. Yesterday the price increased to USD 16.44. Investors ara in search of a safe harbor due the uncertainty of the valuta market.

The 6M Euribor equals 0.97% and the 10Y Swap decreased with 2 bp to 3.45%.

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).

Marktinformatie 23 februari 2010Download market data

Monday, February 22, 2010

Greece asked the other EU leaders for political support. To reduce the government debt of EUR 300 bln and the government budget deficit of 12.7%, Greece should be able to borrow money on the same terms as the other eurozone countries. According to the prime minister, the current high interest rate undermines attempts to tackle the deficit. Should Greece not succeed, other European countries with weak general government finances may follow and get into trouble.

With the increase of the discount rate of the Federal Reserve last week, the bank hopes to be ahead of over liquidity in the market economy. Investors see this as a sign of recovery, but there are also signs for a break in trend. Confidence indicators which increased last year, now decrease and the Congressional Oversight Panel, brought to live to keep an eye on the economical crisis, foresees problems on the real estate market as the biggest threat to recovery. Data of ING and SNS Reaal confirm a statement of Moody’s that the amount of default of payments on commercial real estate In the United States, increased most since the beginning of the crisis.

This week, a lot of business news will be published. Big AEX-funds like Heineken and DSM will announce their yearly figures. Today, among others TNT, Draka Holding and BinckBank will follow.

The 6M Euribor increased by 1 bp to 0.97% and the 10Y Swap also increased by 1 bp to 3.47%.

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)

Market information 22 February 2010Download market data

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