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Monday, August 16, 2010

The economic growth in countries of the euro zone varies greatly. The Netherlands and particularly Germany outperform Southern Europe considerably. The average growth in the euro zone was in the second quarter significantly higher than expected. According to Eurostat the economic growth equals 1% in the second quarter.

This is entirely due to the German economy, which had a quarterly growth of 2.2%. The Netherlands also performs well with a plus of 0.9% over the second quarter. This is in contrast with the growth in Southern Europe. Greece reported Thursday that the economy in the second quarter decreased 1.5%. Spain and Portugal reported a small growth of 0.2%. Italy is doing better with 0.4% and France grew by 0.6%.

Interest rate differentials on the euro zone capital market increased again. Against a slight decrease in the ten year rates of the German government bonds, there were increases for Greece, Spain and Portugal. This is attributed to the growth differences in Europe.

The 6-month Euribor remained unchanged at 1.15. The 10-year swap rate decreased 5 basis points to 2.65.

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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