Market information

Friday, February 12, 2010

In America the number of initial jobless claims for the first week of February is announced yesterday. The number was expected to decrease from 480 thousand to 465 thousand. The actual number was 440 thousand.

The Gross Domestic Product (GDP) of the Eurozone for the last quarter of 2009 is announced today. It is expected that the year-over-year GDP will become -1.9%, while the number denoted -4% a quarter earlier.

The German BBP was constant over het fourth quarter of 2009. The German economy has decreased with 2,4% over 2009.

The Dutch inflation has decreased for the first time in five months, in January. The inflation denoted 0.8%, while the inflation was 1.1% in December 2009. The main reason for the decrease was the decrease in the energy prices, which are adapted twice per year.

The 6M Euribor remains constant at 0.97%, the 10Y swap decreased with 2 basis points to 3.42%.

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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Thursday, February 11, 2010

Today the EU summit in Brussels will officially cover the long term economic strategy. However, the meeting is overshadowed by the turmoil of the financial markets. Greek bonds have been under pressure for weeks now and will heavily affect the Euro as investors have little faith in dealing with the Greek treasury problems.

Investors are counting on a support plan for Greece and will be disappointed if one is not announced today. According to the French newspaper, Le Monde, and the press agency Bloomberg, France and Germany are preparing a supportplan for Greece. Both countries want to prevent the problems to spread over the eurozone and affect the depreciation of the Euro. Yesterday the French president, Nicolas Sarkozy, had consultations with the German prime minister Angela Merkel.

The Federal Reserve is preparing to gradually decline the very broad monetary policy. This was announced yesterday by the president of the Fed Ben Bernanke. The interest rate will remain low, temporarily, but the Fed is using other instruments to stop the developments of depreciation.

The 6M Euribor equals 0.97% and the 10Y Swap increased with 1 bp to 3.44%.

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Wednesday, February 10, 2010

Yesterday, the German Statistic Agency published figures about consumer prices in Germany. In line with expectations they decreased in January by 0.6% percent. In contrast to December, where the consumer prices rose with 0.8%. On a yearly basis the German consumer prices rose by 0.8% as well. The annual inflation rate in December was well below the target of the European Central Bank, which aims to keep inflation in the euro zone just below the 2%.

Revival of Greek government bonds resulted ina increase of the euro, which ensured that the euro recovered against the dollar. The euro recorded at the end of the trading day in Europe $ 1.381, an increase of 1.2% compared to the $ 1.365 from Monday. The Greek government bonds revitalized considerably after rumors of a forthcoming European Union rescue plan. Interest on Greek government bonds fell by 36 basis points yesterday.

Yesterday published figures by the U.S. Department of Commerce have revealed that wholesale inventories in the United States in December fell by 0.8%, where economists expected an increase of 0.5%.

The 6M Euribor remained constant at 0.97%. The 10Y swap increased with 6 basis points to 3.43%.

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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Tuesday, February 09, 2010

In December the unemployment rate was 8.8% in the 30 OECD countries. This equals the figure for November and an increase of 1.8% as to December last year.

The "Centraal Bureau voor de Statistiek", the Dutch statistic bureau, published figures for production and turnover for Dutch manufacturing. In December the production increased for the first time in over a year. Production rose that month with 1.0%.

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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Monday, February 08, 2010

Steven Maijoor, the director of the Dutch Authority of Financial Markets (AFM), suggests that a new European regulator is required to control the audit firms. There are already European regulators for banks, insurers and securities exchanges. For this purpose, a "European Audit Authority" should be created according to Maijoor. The main reason is that the monitoring of auditors is now nationally regulated, causing problems for companies operating internationally and applying different laws.

The U.S. Treasury Secretary, Timothy Geithner, said that the U.S. will never lose their AAA rating. This despite an expected deficit of $ 1.8 trillion. He adds that it is clear that when there is instability in the global markets, investors return to equities and bonds are quoted in U.S. dollars. Geithner responded to the publication of Moody's saying that the credit rating of the U.S. could decrease in future if no additional measures are taken to contain the budget deficit in the coming years.

The 6M Euribor remained unchanged at 0.97%. The 10Y Swap decreased 2 basis points to 3.34%.

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