Market Information Wednesday 23 October 2019

Market Information Wednesday 23 October 2019

According to the United States association of real estate agents, sales of existing homes in the US in September decreased by 2.2% compared to the previous month. Sales amounted to 5.38 million homes annually, compared to 5.50 million a month earlier. In August, sales increased with 1.5%.

The Dutch data supplier BDB states that the construction costs for new homes this summer are 11.5% to 16.5% higher than last year’s. The increase is the result of imposed sustainability measures. According to the BDB, the price increase, excludes inflation and higher wages.

Statistics Netherlands (CBS) reported that the volume of investments in tangible fixed assets was 0.2% higher in August than in the same month a year earlier. This was mainly due to higher investments in machinery and passenger cars. On the other hand, investment in aircraft were lower than in the previous year.

The 6M Euribor is unchanged at -0.35% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.04% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

Market Information Tuesday 22 October 2019

Market Information Tuesday 22 October 2019

According to the European statistics bureau Eurostat, the government debt of countries in the Eurozone decreased in the last year to an average of 85.9 percent of the GDP of the Eurozone economy. Government debt amounted to 87.8 percent of GDP in 2017. The Euro countries with the highest debt ratio are Greece and Italy with respectively 181 and 135 percent of their GDP.

Consumer confidence in the Netherlands has barely changed this month. Statistics Netherlands reported that the figure for consumer confidence reached minus 1 in October and minus 2 in September. The average of the last 20 year is minus 4. The highest level was reached in January 2000 at a level of 36 and the lowest level at minus 41 in March 2013.

The Dutch ministry of finance reported that the Dutch government raised 2.1 billion euro with the reopening of two short-term loans. More than 1 billion euro has been obtained on a loan which expires on 31 January 2020 and on a loan which expires on 31 March 2020 almost 1.1 billion euro.

The 6M Euribor is unchanged at -0.35% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.07% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

Market Information Monday 21 October 2019

Market Information Monday 21 October 2019

British Prime Minister Boris Johnson was forced by the British House of Commons to request a deferral for Brexit. Last Saturday, the so-called Letwin amendment was adopted, which stipulates that legislation on Brexit must first be adopted before the new deal concluded last week can be voted on. Since the internal deadline for the British to confirm a deal was set on October 19, Johnson was required to request a deferral. The expectation is that the legislation and the deal will be voted on in the British House of Commons on Monday and Tuesday. The EU has meanwhile indicated that it will wait for these votes before deciding on a postponement of Brexit.

The American research firm Conference Board has reported that the outlook for the US economy deteriorated in September 2019 compared to a month earlier. The index fell by 0.1 to 111.9. Economists expected on average that the index would remain constant.

The German federal statistics agency Destatis has reported that producer prices in Germany increased by 0.1% in September 2019 compared to the previous month. The increase follows a sharp decline of 0.5% in August 2019. Economists had expected a decline of 0.1% for September.

The 6M Euribor is unchanged at -0.35% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.03% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

Market Information Friday 18 October 2019

Market Information Friday 18 October 2019

The head of the European commission, Jean-Claude Juncker, and the prime minister of England, Boris Johnson, announced that the UK and the EU have reached an agreement on the Brexit deal. The deal is yet to be approved by the leaders of the EU and the UK Parliament. Johnson stated that the wants to pass the deal through parliament on Saturday.

Trade talks between China and the United States progressed substantially according to a representative of the Chinese Ministry of Trade. The countries came to a partial trade deal that is still to be formalized and signed by both countries. China hopes to end the trade war and eliminate all tariffs between the countries.

According to Chinese government data, the growth of the Chinese economy decreased to its lowest level in almost 30 year during the third quarter of 2019. The growth in this quarter was 6% on an annual basis, while this was 6.2% in the second quarter of 2019. Industrial production and consumer expenses are relatively low in China. The Chinese government assumes an economic growth over 2019 somewhere between 6% and 6.5%.

The 6M Euribor increased with 1 basis point to -0.35% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.00% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

Market Information Thursday 17 October 2019

Market Information Thursday 17 October 2019

According to Statistics Netherlands (CBS), the number of people with paid work increased by an average of 8,000 a month in the past quarter. At the end of September, the number of people with paid work was nine million. In addition, the number of people receiving unemployment benefits decreased to 233,000 in that period, 3,200 less than at the end of August. According to CBS this decrease is mainly due to the adjustment in the structure of the unemployment benefit rights and the shortening of the duration of these benefits.

The United States Department of Commerce announced this morning that the business inventory levels in the United States remained unchanged in August compared to a month earlier.

The president of De Nederlandsche Bank (DNB), Klaas Knot, again criticised the policy of the European Central Bank (ECB) in a speech in New York yesterday. The ECB has to reconsider its strategy and extensive research will be needed into the effectiveness of the ECB’s stimulus measures, according to Klaas Knot. One possible nuance could be the introduction of a flexible bandwidth with regard to the inflation target of 2.0%.

The 6M Euribor decreased with 1 basis point to -0.36% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.03% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.