Market information
Wednesday, August 25, 2010
The figure on existing home sales in the United States was 27% lower in July compared to the previous month. A total of 3.83 million existing homes were sold. Economists expected a number of existing home sales of over four million.
The disappointing figure on existing home sales amid growing fears for a second recession among investors, sent investors piling into the safety of government debt on Tuesday. As a result the 10-year American Treasury yield fell below 2.5% for the first time in seventeen months. The yield on 10-year German sovereign debt reached its lowest point ever at 2.19% on Tuesday. The 10-year swap dropped ten basis points to 2.38%.
The turmoil over the global economic recovery has resulted in an appreciation of the Japanese yen against the US dollar and the euro. Tuesday, the euro quoted 106.50 against the Japanese yen, an increase of 1.2% compared to Monday and the highest level since 2001.
The 6M Euribor remained unchanged at 1.14%. The 10Y Swap decreased with 10 basis points to 2.38%.
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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