Market information

Monday, March 08, 2010

Dutch pension funds don’t have to take the weakened position of the insurers where they reinsured their risks into account yet. Minister Donner of Social Affairs announced Friday that the pension funds received deferment until the end of this year will delay. Previously it was determined that the funds on April 1 had to take into account the counterparty risk of their insurer. Due to a devaluation of almost all Dutch insurers the risk profile of the reinsured pension funds was higher than was estimated beforehand, which means that their buffers should be increased.

Last Friday it was announced that the U.S. unemployment rate in February is 9.7%. This is lower than the 9.8% that analysts had expected. In January, unemployment rate was also 9.7%. The news had a positive effect on the mood on the stock exchanges in New York and Amsterdam. The Dow Jones index closed 1.2% higher Friday. The AEX index recorded a plus of 1.9%. This meant a higher closure for the sixth day in a row.

The 6M Euribor remained unchanged at 0.96%. The 10Y Swap remained unchanged at 3.36%.

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