Market information

Friday, March 05, 2010

The Institute of International Finance (IIF) has emphasized that too many rules are made on the regulation of banks. This could cause a hindrance in the recovery of the banks. The IIF does not provide solid examples, but this warning is certainly a consequence of the plans by U.S. President Obama to split the banks and the British Prime Minister Brown to banks to pay a special tax.

Several think tanks in Washington suspect Chinese currency manipulation. Reason for this is that the US is facing high unemployment and trade deficits and the presence of Chinese surpluses. Analysts estimate that the yuan is 25% undervalued against the dollar.

The assessment of the 'long term and senior debt ratings "Deutsche Bank has downgraded to Aa3, according to rating agency Moody's. Reasons for this fall from Aa1 to Aa3 are the volatility of the turnover and delays in the acquisition of Deutsche Postbank.

The European Central Bank has left the refinancing rate unchanged at 1.00%.

The 6M Euribor remained unchanged at 0.96%. The 10Y Swap is decreased 1 basis point to 3.36%.

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