Market information
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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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
