Market information
Thursday, July 22, 2010
After five bad days the AEX finally experienced a good trading day. The Amsterdam Stock Exchange closed at 326.36 points, a gain of 1.8%. The profit was mainly due to good results from U.S. banks including Morgan Stanley and Wells Fargo.
U.S. president Barack Obama has put his signature under the so-called ‘Dodd-Frank Wall Street Reform and Consumer Protection Act’. The Reform Act provides the strongest consumer protection in history, according to Obama. The Reform Act provides, inter alia, the establishment of an oversights board that will monitor the financial markets.
Yesterday, the gold price increased by 0.72% and now yields to USD 1192 per ounce. The gold price is already increasing for months and will continue to increase according to experts. Several outlooks forecast that the gold price will yield to USD 1350 at the end of 2010.
Tomorrow the results of the stess tests will be publicly announced, which were executed at the 91 biggest banks of Europe. Yesterday, leaking information about the results of the stress tests already resulted in a decline of the Euro.
The 6M Euribor remained unchanged at 1.13%. The 10Y swap decreased with 4 basis points to 2.86%.
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, July 21, 2010
Yesterday, after a brief revival the euro fell below $ 1.30. This came after news on the stress tests results for European banks. There was news that the German Hypo Real Estate mortgage lender had not passed the test, despite repeated assurances from European leaders that the banks are doing well. Although Hypo Real Estate is the only German bank that has not passed the test, it was enough to initiate a fall in the Euro exchange rate. Yesterday as well, the Central Bureau of Statistics published figures showing that consumer confidence in the Netherlands has improved in July. The consumer confidence index amounted in July to -14 to -18 in June. The consumer confidence about the economic climate appears to be significantly less negative than in June. This sub indicator of consumer confidence rose to -19 in July, an increase of 10 points with respect to a month earlier. The 6M Euribor increased with 1 basis point to 1.13%. The 10Y swap remain unchanged at to 2.90%. 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, July 20, 2010
Activity in the European building sector has declined for the second month in a row. Across the European Union 1.0% fewer buildings were produced in May from a month earlier. Compared to a year earlier, the drop is -6.3%. In the Netherlands production increased, 3.7% more buildings were produced in May than in April.German producer prices rose 0.6% from a month earlier in June. The increase from a year earlier is 1.7%. Energy prices are the main driver of the increasing price level. From May to June, these prices rose 2.1%.
The AEX-index closed with a 0.6% loss on 322.00 points yesterday. For a large part of the trading day the index was in the green. However, after the opening of Wall Street and the publication of index figures of American home builder confidence, the stock exchange lost its winnings. The confidence index was at 14 points whilst analysts expected 16.
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, July 19, 2010
On Friday, Eurostat published the figures which showed an unexpected trade deficit of EUR 500 million in the balance of trade. Consulted economists expected a trade deficit of EUR 500 million, the trade deficit was EUR 3.4 billion in May.Eurostat also decided to defer the adjustments of the budget figures of Greece with six months. Therefore it will certainly take until October before it becomes clear how the Greek economy is doing. The study is more extensive than previously thought.
In June, the consumer prices in the United State have declined slightly. There was a deflation of 0.1% compared to previous month. Consulted economists expected that the consumer prices remained unchanged, according to figures published by the U.S. government.
The 6M Euribor increased with 1 basis point to 1.11%. The 10Y swap decreased with 4 basis points to 2.85%.
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, July 16, 2010
Despite the lowered credit rating of Portugal last Wednesday, they have managed to sell EUR 1.68 billion in bonds. The maturities of the loans are two and nine years. The Italian government succeeded in attracting new capital as well. An amount of EUR 6.8 billion was raised by issuing bonds with maturities up to thirty years.
The funding ratio of pension fund ABP declined further to 95%, well below the prescribed minimum of 105% by the Dutch Central Bank. ABP attributes the decline of the funding ratio, amongst others, to historically low interest rates.
The U.S. investment bank Goldman Sachs and the U.S. Securities and Exchange Commission (SEC) reached a settlement. The settlement is the largest in Wall street’s history and amounts to USD 550 million.
The U.S. Senate has approved a financial reform which should assure that a future financial crisis is avoided. The Reform Act provides the establishment of an oversight board, which should make an end to decades of deregulation in the financial sector.
The 6M Euribor remained unchanged at 1.10%. The 10Y swap increased with 2 basis points to 2.89%.
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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