Market information
Thursday, June 24, 2010
The Federal Open Markets Committee (FOMC) of the Federal Reserve (Fed) has made its interest rate decision yesterday. The interest rate the central banks will demand for lending money will remain between 0.00% and 0.25%.New homes sales in the United States have slowed in May to approximately 300,000. This is a decline of 32.7% compared to April. The lowest number of sold homes since measurement began in 1963. The drop in home sales is attributed to the ending of a tax credit for new home buyers. This makes it less attractive to buy a new home.
Furthermore, the purchasing manager indices for the services and manufacturing sectors in the euro zone have been published. The index for the services sector is 55.4 for June, a 0.8 point decline compared to May. The manufacturing index stands at 55.6, a 0.2 point drop. An index of more than 50 points indicates sector growth. Economists see the increasing unemployment and debt crisis as causes for the decline of the economic activity. However, the weak euro is stimulating the economy as imports are relatively cheap for countries outside the euro zone.
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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