Market Information Friday 15 February 2019

Market Information Friday 15 February 2019

The American department of Labour published numbers regarding consumer prices. Consumer prices in the United States decreased by 0.1% with respect to last month. Economists expected consumer prices to increase by 0.1%. In December, prices also fell by 0.1% with respect to a month earlier.

The Chinese bureau of statistics reported that the growth of producer prices decreased last month with respect to a month earlier. Producer prices increased by 0.1% in January, while the increase in December was 0.9%. Economists expected a growth of 0.3%. This is the seventh consequential month of decline of producer prices.

The stock exchanges in New York suffered losses on Thursday. An unexpected decrease of retail sales in January was identified as potential culprit of the lower market sentiment. The Dow-Jones decreased by 0.4% to 25,439.39 points, while the S&P 500 decreased by 0.3% to 2475.73 points.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.65% 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 14 February 2019

Market Information Thursday 14 February 2019

Figures published by the United States government show that inflation in January 2019 has decreased. The inflation was 1.6% on a year-on-year basis, compared to 1.9% in December 2018. Economists expected a rate of 1.5%. Core inflation was 2.2%, unchanged from December 2018.

European statistics agency Eurostat announced Wednesday that the manufacturing output in the eurozone has decreased in December 2018 compared to the previous month. The decrease amounted to 0.9%, compared to 1.7% in November 2018. Economists expected a decrease of 0.4%. In the European Union, the manufacturing output fell by 0.5%, compared to a decrease of 1.2% in the previous month.

The Japanese Cabinet Office published figures showing that the Japanese economy grew in the fourth quarter of 2018. The economy grew by 1.4% on a year-on-year basis, in line with economists’ expectations. In the third quarter of 2018, the economy shrank by 2.6%, primarily due to natural disasters. Compared to the third quarter, the economy grew by 0.3%.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.66% 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 12 February 2019

Market Information Tuesday 12 February 2019

According to Statistics Netherlands (CBS) the number of companies declared bankrupt in January 2019 fell sharply compared to December 2018. A total of 283 companies went out of business in January 2019, compared with 330 companies in the last month of 2018. This was the first month with a decline in bankruptcies, after three months of increase.

The Dutch State is investigating the opportunity to no longer do business with companies that have settled with the public prosecutor because of a violation of the law. The Ministries of Economic Affairs and Finance are examining how such companies can be excluded in the future in government tenders and how running contracts can be terminated. Within a few weeks it will probably become clear how the rules for public procurement will be adjusted.

A new shutdown of the United States seems to be prevented. After the negotiations of Monday evening, the American Congress reached consensus on all points, according to Richard Shelby, chairman of the negotiations. The question remains whether American President Donald Trump will sign the agreement. If there is still no agreement next Friday, the government will face another shutdown.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.65% 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 11 February 2019

Market Information Monday 11 February 2019

The municipality of Amsterdam, the Dutch capital reported that 153 foreign companies opened a new office in Amsterdam last year, 28 companies did this in response to the expected Brexit. Figures from the Netherlands Foreign Investment Agency (NFIA) also show that the number of companies that relocated to the Netherlands, due to the departure of the United Kingdom more than doubled last year. More than 40 companies have already confirmed the relocation to the Netherlands in 2018.

According to Statistics Netherlands (CBS), last year, the total number of companies in the Netherlands was the highest in more than ten years. In 2018, the increase of new companies amounted to 191,300, in comparison to 106,600 business closures. Meaning that, on balance, 84,700 more companies have been founded. The vast majority of new companies, 94% of them, are sole proprietorship.

According to its director Christine Lagarde, the International Monetary Fund (IMF) is ready to provide Pakistan with a loan to overcome on the balance of payments a crisis. Pakistan needs to close a financial gap of USD 12 billion and is now negotiating the terms of a thirteenth emergency loan from the IMF in forty years. In recent months, Pakistan already received emergency loans of USD 3 billion from both Saudi Arabia and the United Arab Emirates.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.63% compared to previous business day.

The following macro-economic figures will be published in the coming week:
• Gross Domestic Product (GDP) Eurozone
• Consumer Price Index (CPI) United States
• Producer Price Index (PPI) United States

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

Market Information Friday 8 February 2019

Market Information Friday 8 February 2019

European exchanges experienced a setback on Thursday after a reduction of the growth expectation in the Eurozone. Economists expected an economic growth of 0.1% for Italy. However, for the first time since 2015 the economy did not grow in Italy. Growth expectations for all countries in the EU were adjusted downwards. The AEX index fell by 0.9% to 531.63 points and the MidKap fell by 1.4% to 728.84.

The Reserve Bank of Australia adjusted expectations of economic growth downwards. The Australian central bank stated that decreased consumption, global trade tensions and decreasing Chinese growth of the economy were the main reasons for the adjusted growth expectation. The expected economic growth in Australia of the fiscal year that ends in June is 2.5%. This number was adjusted downwards from 3.25%.

The average daily production of the Dutch industry fell by 4.2% with respect to the same month a year earlier. This is the first decrease in average daily production since September 2015 according to Statistics Netherlands. The production in December was 3.9% lower than in November, which brings the production to its lowest point since September 2017.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.66% 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.