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Friday, December 23, 2011

Today, rating agency Moody's announced that it will for the time being maintain the negative outlook on the U.S. Earlier this year, S & P lowered the credit status of the U.S. Moody's on the other hand only warns the U.S. and indicates that it should take steps in order to reduce their debts. Should the U.S. not act on this warning within the coming one to two years, the credit rating will be lowered.

The Japanese debt level continues to increase dramatically; it is expected that the Japanese government debt will rise to 250% in 2015. This rate is many times higher than Greece’s and Italy’s debt rate, respectively 165% and 121%. Still, Japan is seen as a safe haven in the U.S. and Europe. Credit rating agencies Moody's, S & P and Fitch are warning that the debts are so high that it is possible that Japan will not be capable of meeting its obligations in the future.

The American markets reacted positively yesterday on the announcement that the number of cash benefits in the U.S. have fallen to its lowest level since April 2008. Especially bank shares did well yesterday. The Dow Jones index gained 0.57% and the S & P closed with a gain of 0.83%. The stock markets in Europe started the last trading day before Christmas positively. The AEX index rose 0.8% after opening and the MidKap-index went up 1.2%. The stock exchanges in London, Frankfurt and Paris were up to 1.2%.

The 6M Euribor decreased by 1 basis point to 1.66%. The 10Y Swap decreased by 4 basis points to 2.51%.

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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