Market information
Tuesday, July 26, 2011
The U.S. government has a few extra days to reach an agreement on raising the debt limit. Thus far it was assumed that the deadline for an agreement was the 2nd of August, but unexpected high tax revenues have given the U.S. a little more time. On the date of the new deadline, the opinions diverge from August 8 to the end of August.
Meanwhile, U.S. banks take steps to cope with a possible default by the U.S. government. ''While we trust that our lawmakers find a solution, we aim to continue to meet the needs of our customers if no agreement is reached”, said a spokesman for Wells Fargo on Monday. Many banks a likely to get in trouble because they are heavily dependent on U.S. government bonds.
The Central Planning Agency (CPB) in the Netherlands has reported that World trade has increased by 2.3% in May compared to April. This increase reverses the downward trend of the previous month. In April, world trade was down 2.2% from March. Exports from developed countries reached its highest level since the beginning of the crisis. Industrial production also grew, by 0.8%. This was mainly due to the strong recovery of the Japanese economy.
The 6M Euribor rose by 1 base point to 1.83%. The 10Y Swap increased by 2 basis points to 3.27%.
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
