Market information
Tuesday, March 02, 2010
The latest figures from the 'Centraal Plan Bureau(CPB)' show a grow in the world trade by 4.8% in December. In November the growth was 1,1%. According to Jos Ebregt, economist from CPB, this is an exceptionally rapid growth. His explanation is based on the fact that Asia is initiated by the high economic growth in China, and this influence the export from Europe to Asia.Figures from Markit Economics show that the purchasing managers index for manufacturing in the eurozone rose in February. The index increased in February to 54.2, the index was 52.4 in January. The index indicates a growth if the score is above the 50 points.
Eurostat reported on Monday that the unemployment in January in the eurozone has remained stable over the last month. The unemployment rate of January is 9.9%, economists expected an unemployment rate of 10.1%.
The 6M Euribor equals 0.96% and the 10Y Swap decreased with 1 bp to 3.35%.
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).
Monday, March 01, 2010
The European Commission has momentarily started making new rules concerning credit default swaps. Prior to the economical crisis there was hardly a market for these derivatives. Countries such as Greece and Portugal used these derivatives in a complex way in order to conceal various parts of their governmental budget deficit. Between October and February the net amount of such traded credit derivatives on sovereign bonds in 54 countries has increased with 14.2%. The amount of derivatives on other bonds increased with just 2.6% in the same period.BlackRock has acquired Barclays Global Investors for an amount of EUR 13.5 bln. Together they now have EUR 115 bln assets under management in the Netherlands. That makes them the second biggest asset manager in the Netherlands, after APG. Worldwide, both parties manage a total amount of approximately USD 3000 bln. With BGI’s index trackers such as iShares BlackRock hopes to attract more big institutional clients.
The Dutch umbrella fund Theta Legends Fund has requested a listing at NYSE Euronext. At this moment private investors are only able to enter or exit a fund semiannually. Due to current dynamics funds are exposed to extreme fluctuations in a period of six months and therefore it can be interesting for investors to enter or exit a fund daily. According to Wouter ten Brinke, partner at Theta Capital, this will enhance both liquidity and transparency. The Theta Legend Fund manages a total assets amount of EUR 60 mln. It expected that more these ‘fund of funds’ will take this step.
De 6M Euribor has remained the same at 0.96%. De 10Y Swap has also remained the same at 3.36%.
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)
Economic view
Publications
New terms for a marriage of convenience
Impact of Basel III on corporate banking relationship
risk management, financing, treasury, cash management, working capital, investments, Basel III
Shift towards an American funding model
corporates, corporate lending, Greek default
Client Cases
Netherlands State Treasury Agency
Going the extra mile for the national treasurer
public sector, treasury management, financing, treasury, publieke sector
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