Market information
Monday, January 09, 2012
Chinese banks have issued more loans in December due to the easing of restrictions on lending by the Chinese government. This is evident from figures published by the Chinese central bank. Chinese banks provided loans for a total of Yuan 640.5 billion (EUR 79.8 billion) in December. In November, this amount totaled Yuan 562.2 billion (EUR 70 billion). Lending by banks is encouraged by reducing the banks' capital requirements. The Chinese government also ordered banks to provide more loans to small businesses. The interventions must ensure that the impact of the decreasing growth of the Chinese economy will be reduced. The Chinese government imposed the restrictions earlier to prevent overheating of the economy and high inflation.
Greece is planning to issue new bonds with state property as collateral. In this way the government wants to buy back old loans. For every billion of new bonds, the government will be able to buy back old bonds with a nominal value of around EUR 2.5 billion. This is possible because the value of Greek government bonds has decreased substantially. The Greek national debt of USD 350 billion is currently trading at about 35% of the nominal value.
The Euro-Dollar exchange rate reached its lowest point in 16 months on Monday. Relative to the yen, the euro reached the lowest point in 11 years. The Euro was worth USD 1.2664, while later it gained some value to USD 1.2725. Relative to the yen, the currency is trading for YEN 97.28. The decline of the Euro comes after a weekend of negative news about Europe. The International Monetary Fund indicated this weekend that it loses faith in the ability of Europe to solve the Greek debt problems.
The 6M Euribor decreased with 1 basis point to 1,29%. The 10Y Swap decreased with 1 basis points to 2,39%.
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).
Monday, January 09, 2012
Chinese banks have issued more loans in December due to the easing of restrictions on lending by the Chinese government. This is evident from figures published by the Chinese central bank. Chinese banks provided loans for a total of Yuan 640.5 billion (EUR 79.8 billion) in December. In November, this amount totaled Yuan 562.2 billion (EUR 70 billion). Lending by banks is encouraged by reducing the banks' capital requirements. The Chinese government also ordered banks to provide more loans to small businesses. The interventions must ensure that the impact of the decreasing growth of the Chinese economy will be reduced. The Chinese government imposed the restrictions earlier to prevent overheating of the economy and high inflation.
Greece is planning to issue new bonds with state property as collateral. In this way the government wants to buy back old loans. For every billion of new bonds, the government will be able to buy back old bonds with a nominal value of around EUR 2.5 billion. This is possible because the value of Greek government bonds has decreased substantially. The Greek national debt of USD 350 billion is currently trading at about 35% of the nominal value.
The Euro-Dollar exchange rate reached its lowest point in 16 months on Monday. Relative to the yen, the euro reached the lowest point in 11 years. The Euro was worth USD 1.2664, while later it gained some value to USD 1.2725. Relative to the yen, the currency is trading for YEN 97.28. The decline of the Euro comes after a weekend of negative news about Europe. The International Monetary Fund indicated this weekend that it loses faith in the ability of Europe to solve the Greek debt problems.
The 6M Euribor decreased with 1 basis point to 1,29%. The 10Y Swap decreased with 1 basis points to 2,39%.
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).
Friday, January 06, 2012
Yesterday, the euro fell to a 15-month low versus the dollar due to uncertainty of the survival of the Euro-zone due to the debt crisis. The Euro also lost ground against the British pound and Japanese Yen. On the 30th of January, EU leaders will discuss regulations of the permanent European emergency fund for European countries in difficulties (ESM) which will be implemented in July 2012. Additionally clarity is aimed to be reached on the budgetary rules to tackle the debt crisis.
Yesterday, France sold 7.96 billion Euros of debt. The nations borrowing costs is rising in its first auction of 2012 due to credit companies threatening to cut its AAA rating.
On Wall Street the S&P 500 increased by 0.29% to 1281 points. The Dow Jones index decreased by 2.72% to 12,415.70 points. In Amsterdam the AEX index fell by 0.80% to 311.92.
The 6M Euribor remained unchanged at 1.57%. The 10Y Swap decreased by 1 basis point to 2.40%.
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).
Thursday, January 05, 2012
Ireland met its 2011 budget target set by the International Monetary Fund (IMF) and the European Union. The budget target was imposed after the European Union and the IMF provided Ireland with a bailout in 2010. Nonetheless, overall the budget deficit rose to EUR 24.9 billion. This increase was caused among others by the support package of EUR 9.64 billion provided to the Irish banks. Whiteout this bailout, the budget deficit fell from EUR 18.7 billion in 2010 to EUR 15.3 billion in 2011.
According to a first estimate of Eurostat, the European Statistical Office, inflation in the Euro zone fell to 2.8% in December on annual basis, in line with expectations. In November, Euro zone inflation was 3.0% on annual basis.
On Wall Street the S&P 500 increased by 0.02% to 1277.30 points. The Dow Jones index increased by 0.17% to 12,418.42 points. In Amsterdam the AEX index fell by 1.10% to 315.53.
The 6M Euribor decreased by 1 basis point to 1.59%. The 10Y Swap increased by 4 basis point to 2.42%.
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).
Wednesday, January 04, 2012
The European bailout fund EFSF (AAA) announced yesterday that it will issue EUR 3 billion in three-year bonds, without mentioning a specific date. The proceeds of these bonds will be loaned to Ireland and Portugal. Previous bond issues in 2011of the EFSF were successful.
The German Federal Labour Office (Bundesagentur für Arbeit) published that the unemployment rate in Germany declined from 6.9% to 6.8% in December. Germany’s jobless count is now 2,98 million. That is a decline of 22.000 jobseekers in November. In contrast to Germany, the unemployment rate in Spain rose to 7.9% in December. According to the Spanish Ministry of Employment and Social Affairs, 4.42 million Spaniards were unemployed last month.
Yesterday The Institute for Supply Management (ISM) published favorable figures in the United States. The PMI index indicated an increase in economic activity. The index rose to 53.9. An index above 50 indicates an increase in activity. The Dow Jones index increased by 1.5% and closed at 12,397.38 points, the S&P rose 1.6% and ended at 1277.06 points. Nasdaq closed at 2648.72 points, a gain of 1.7%.
The 6M Euribor has decreased by 1 basis point to 1.60%. The 10Y Swap decreased by 9 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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