Market information

Monday, May 31, 2010

Last Friday the University of Michigan published figures that show that the U.S. consumer confidence rose in May. The index increased to 73.6 from 72.2 in April of this year. Economists expected an increase to 73.3. Consumer confidence is considered as an important barometer of the consumer spending.

Inflation expectations for the next 12 months among U.S. consumers rose in May to 3.2% from 2.9% in the previous month. The consumer expectation is that over a period of five years prices will increase with 2.9%, while a month earlier an increase of 2.7% was expected.

Figures published as well Friday revealed that the purchasing managers index decline more than expected in May. The purchasing managers index declined to 59.7 in May, while this index recorded 63.8 in April this year. The economic activity grows when the index is higher than 50 points. A score below 50 points indicates a decline in the economic activity.

The 6M Euribor remains constant at 0.99%. The 10Y swap rate decreases with 2 basis points to 2.94%.

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