Market information

Friday, February 05, 2010

The refinance rate of the European Central Bank (ECB) has remained unchanged at 1.00%, which was determined at the last board meeting. The president of the ECB, Trichet, stated that the European economy will slowly expand in 2010, where the unemployment rate will rise. The short inflation rate expectation remains round about 1%.

The initial jobless claims has increased unexpectedly in the last week of January. It was expected that this number decreased with 15 thousand, instead the initial jobless claims rose with 8 thousand to 480 thousand. Today the unemployment rate over January will be announced. It is expected that this rate will remain constant at 10%.

Spain has announced that the budget deficit will be higher than the expected 11,4% of the Gross Domestic Product. At an auction of government bonds Portugal raised only 300 million of the expected 500 million.

Due to the problems in these two countries and Greece and the unexpected increase of the jobless claims, the stock indices decreased worldwide. The AEX index decreased with almost 3%, being the biggest decrease in more than 2 months. The Dow Jones index decreased with 2,61%, being the biggest decrease since April 20, 2009.

The 6M Euribor remains constant at 0,97%. The 10Y swap decreased with 8 basis points to 3,46%.

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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