Market information

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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