Market information
Tuesday, March 23, 2010
Yesterday the euro depreciated against the dollar. Investors lost trust in the European currency by continuing turmoil over Greece. The German government announced that a solution will probably not be found at the EU summit at the end of the week.The announcement, of Angela Merkel, that financial markets should not count on a decision of the EU summit over Greece caused a decrease of Greek bonds and stocks. The interest on ten year Greek bonds increased with 12 basis points to 6.49%. To compare: the German interest on ten year bonds equals 3.07%.
American stock exchanges reacted positive on the approval of the new health care system of president Obama. Stocks of companies that are affiliated to the health care industry caused the exchanges to increase, beacuse investors expect a positive role of the health insurance system for drug manufacturers.
The 6M Euribor remained unchanged at 0.95%. The 10Y Swap rate decreased with 4 basis points to 3.27%.
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Economic view
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risk management, financing, treasury, cash management, working capital, investments, Basel III
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