Market Information Friday 30 November 2018

Market Information Friday 30 November 2018

Figures published by the German Federal Statistical Office Destatis show that inflation in Germany was 2.3% in November 2018 on an annual basis. This compared to highest inflation in 10 years of 2.5% in October 2018. Economists expected a decline of the inflation rate to 2.4%.

Furthermore, Destatis reported that the German unemployment rate decreased by 0.1% in November 2018 compared to the previous month. The unemployment rate decreased to 5.0%, whereas economists forecasted unemployment to remain stable at 5.1%.

The US Department of Commerce has reported that the sale of new homes in the United States decreased by 2.6% in October 2018 compared to September 2018. Economists predicted that home sales would increase by 0.5%. In September 2018, sales increased by 0.7%.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.88% 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 29 November 2018

Market Information Thursday 29 November 2018

The US Department of Commerce reported yesterday that economy in the United States has increased by 3.5% in the third quarter of 2018 on an annual basis. Economists also accounted for a 3.5% increase. In the second quarter of 2018 there was still an increase of 4.2% on an annual basis.

Statistics Netherlands stated that producer confidence increased in November 2018. The index that measures producer confidence rose from 5.9 in October 2018 to 7.2 in November. Producer confidence is well above the average of the past twenty years.

The economy of Switzerland contracted with 0.2% in the third quarter of 2018 compared to the second quarter of 2018. Economists had expected an increase of 0.4%. The Swiss State Secretary for Economic Affairs reported that the lower growth coincides with lower economic growth by other European countries, in particular Germany.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.91% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Wednesday 28 November 2018

Market Information Wednesday 28 November 2018

Figures from Statistics Netherlands (CBS) show that in the past three years the additional revenue due to the Holidays in December 22% was for retail. Toy stores double their revenues both in November and December, compared to the average monthly revenue during the rest of the year. December is the most important month for retail based on revenues. In the past three years, February was the month with the lowest revenues.

An analysis by the ING Economic Bureau states that the number of freelancers will double in the Netherlands, if technological developments and regulations remain favorable for the “gig economy”. This amounts up to 1.8 million freelancers, of which over 1 million works through platforms such as Uber, Deliveroo and Temper.

Stocks in the U.S. and Asia show modest gains. Businesses and investors hope that President Donald Trump and Xi Jinping will negotiate a truce during the G20 summit in Argentina on Saturday. This will cease the trade conflict between the world’s two largest economies and thereby reduce the negative impacts on the global economy. Investors will also pay attention to clues on the interest rates during the speech by Jerome Powell on Wednesday.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.90% compared to previous business day.

Market Information Tuesday 27 November 2018

Market Information Tuesday 27 November 2018

Research agency Ifo stated yesterday that German business confidence has decreased in November 2018 compared to October 2018. The index measuring confidence fell to 102 in November, compared to 102,9 in the previous month. Economists expected a value of 102,3.

French research institute INSEE stated that French consumer confidence has decreased in November 2018 compared to October 2018. The index reached a value of 92, compared to 95 in the previous month. Economists expected a value of 94.

United States president Trump announced that he expects to raise import tariffs on Chinese goods to 25%. Trump stated four days before the start of the G20 summit that talks with China are highly unlikely to hold off the increase.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.91% compared to previous business day.

Market Information Monday 26 November 2018

Market Information Monday 26 November 2018

The British market researcher Markit published final figures that show that economic activity in the services sector of the eurozone decreased in November 2018 with respect to last month. The purchasing managers’ index, which reflects the activity in the services sector, was 51.1 in November compared to 52 in October. Analysts had not expected any change with respect to the previous month.

The monthly world trade monitor of the Dutch Bureau for Economic Policy Analysis (CPB) shows that world trade volume decreased by 1.1% in September 2018 compared to August. The world trade volume increased in August by 0.2%. Worldwide industrial production decreased by 0.2% in September, while it had increased by 0.5% in August.

According to research bureau Markit, economic activity in the United States industry decreased in November 2018 compared to the previous month. The purchasing managers index (PMI) for the US industry reached a level of 55.4 in November 2018, from a level of 55.7 in October 2018. Economists expected a level of 55.7. A PMI level higher than 50 is an indication of economic growth.

The following macro-economic figures will be published in the coming week:
GDP CYOY Index
UMRTEMU Index
GDPWWAGE Index

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.90% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Friday 23 November 2018

Market Information Friday 23 November 2018

The volume of investments in material fixed assets in the Netherlands in September 2018 was 0.3% lower than in September 2017, as published by Statistics Netherlands today. The decline is largely due to a large drop in investments in aviation. Furthermore, the investments radar of Statistics Netherlands indicates that the investment climate in November 2018 is slightly worse than in September 2018.

The German federal statistics bureau announced that the German economy has declined in the third quarter of 2018 compared to the second quarter. Economic growth in the third quarter was -0.2% against 0.5% in the second quarter. This is in line with the expectations of economists. Year-on-year growth was 1.1%, compared to 2.3% in the previous quarter. The decline is primarily due to the impact of international tensions. Furthermore, the German auto-industry and German consumer spending have declined.

Today, the European Commission announced that consumer confidence in the Eurozone decreased in November 2018, compared to October 2018. The index that measures confidence decreased from -2.7 in October to -3.9 in November. Economists expected the index to decrease to -3.0.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap is unchanged at 0.92% 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 22 November 2018

Market Information Thursday 22 November 2018

The Organization for Economic Cooperation and Development published a report on Tuesday in which it expects a lower growth for the global economy. The OECD forecasts a growth rate of 3.5% for 2019. The OECD previously expected a growth of 3.7%. For 2020, the OECD expects a growth of 3.5%. The main reason for the lower growth rate is the introduction of import tariffs worldwide. In addition, the increased United States’ interest rate causes a capital outflow from upcoming economies to the United States.

Based on preliminary figures, the United States Department of Commerce stated that the orders for durable goods dropped by 4.4% in October 2018 compared to September 2018. Economists expected a decline of 2.6%.

The United States Department of Labor announced that the number of first applications for unemployment benefits in the United States increased in the past week to 224,000 applications. A week earlier, applications amounted to 221,000. On average, economists expected a decrease in unemployment applications to 215,000.

Figures published by the University of Michigan show that consumer confidence in the United States had decreased in November 2018 compared to October 2018. The index for consumer confidence declined to 97.5, from a value of 98.6 in the previous month. A value of 98.3 was expected by economists.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap is unchanged at 0.92% 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 Wednesday 21 November 2018

Market Information Wednesday 21 November 2018

The Dutch Economic Institute for Construction (EIB) reports that employment in the Dutch building sector will continue to grow in the coming years. In 2018, employment in the construction sector has increased by 4%. Demand is larger than supply in the next two years, which will result in delays for new construction projects. On the longer term, it is expected the demand can be met, due to employees that completed their trainings and due to technological developments such as robotisation and automation.

Statistics Netherlands (CBS) reports that consumers are less positive compared to the previous month. In November, consumer confidence decreased with two points. In addition, the willingness to buy decreased by one point. Finally, the opinion on the economic climate decreased by four points.

The American Petroleum Institute published a report which states that U.S. commercial crude inventories unexpectedly fell by 1.5 million barrels. Consequently, prices increased. The price of a barrel of Brent oil increased to USD 63, this is a 1.4% increase. In addition, the price of a barrel WTI increased to USD 54, this is a 1.7% increase.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.92% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Tuesday 20 November 2018

Market Information Tuesday 20 November 2018

Figures published by the French national statistics office INSEE show that the unemployment rate in the third quarter of 2018 remained stable. The unemployment rate was 9.1%, the same as the previous quarter. Economists expected an unemployment rate of 9.2%.

The German federal statistics bureau Destatis has announced that the producer prices have increased by 0.3% in October 2018 compared to September 2018. This is in line with economists’ expectations. On a year on year basis, producer prices increased by 3.3%.

The members of the Organization of the Petroleum Exporting Countries (OPEC), in conjunction with their allies, are looking to decrease the amount of oil produced further than initially stated. Daily oil production would be reduced by more than 1 million barrels. By reducing the oil production, the OPEC aims to stop the decline of oil prices. The main reasons for the falling prices are the record amount of oil produced in the United States and the permission given by the United States to eight countries to continue purchasing oil from Iran.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.93% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Monday 19 November 2018

Market Information Monday 19 November 2018

Last Saturday, credit rating agency Standard & Poor’s (S&P) confirmed the credit rating of the Netherlands at the highest level (AAA). In a statement, S&P points at the strong financial position of the Netherlands, the economy that performs strongly in several sectors and the prudent government policy. The credit rating agency expects the Dutch economy to continue to grow in the foreseeable future, and government debt to decrease further.

In a press conference, US President Donald Trump said that China wants to sign a trade deal with the United States. Trump said that China has drawn up a list of 142 trade proposals, although it is still lacking a few proposals. As a result of the negotiation process, the US government may hold off on levying further US import duties on Chinese goods. Trump indicated that he wants to reach a final agreement with China at the G20 summit next month.

Final figures from Eurostat show that inflation in the eurozone rose to 2.2% in October 2018, compared to 2.1% in September 2018. The inflation rate is in line with the average expectation of economists and earlier estimates of the statistical office. Core inflation, excluding food and energy prices, was 1.1% in October 2018, compared to 0.9% in September. For the European Union, inflation was 2.2% in October.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.94% compared to previous business day.

The following macro-economic figures will be published in the coming week:
Purchasing Managers’ Index (PMI) Eurozone

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Friday 16 November 2018

Market Information Friday 16 November 2018

The European bureau of statistics Eurostat reported that the trade surplus from Eurozone countries to the rest of the world decreased in September 2018 compared to September 2017. Goods exports decreased by 1.0% to EUR 184.8 billion, import of goods increased by 6.4% to EUR 171.1 billion. This resulted in a trade surplus of EUR 25.3 billion, compared to EUR 13.1 billion a year earlier.

Yesterday, the resignation of four ministers of the British Parliament caused uncertainty in the financial markets. Compared to the Euro, the British pound decreased by 1.9%, from GBP/EUR 1.1489 to GBP/EUR 1.1265. The resignation of ministers, including Brexit Secretary Dominic Raab, is caused by a loss of confidence in the Brexit proposal that was presented to the Cabinet Wednesday afternoon.

The US Department of Commerce reported that retail sales increased by 0.8% in October 2018 compared to September 2018. Economists expected an increase of 0.5%. In September 2018 retail sales decreased by a revised 0.1% compared to the previous month.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.93% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Thursday 15 November 2018

Market Information Thursday 15 November 2018

Statistics Netherlands (CBS) has announced that the unemployment rate in the Netherlands remained level at 3.7% of the labor force in October 2018. In total, 337,000 people were registered as job seeking. Unemployment in the Netherlands is still higher than the lowest level before the start of the crisis in the second half of 2008. At that time, the unemployment rate was 3.6%.

Figures published by the US government show that inflation in the United States rose to 2.5% in October 2018 compared to 2.3% a month earlier. The figure corresponds to expectations of economists. Core inflation, excluding energy and food prices, amounted to 2.1% in October, down from 2.2% in September.

Eurostat announced that industrial production in the eurozone decreased by 0.3% in September 2018 compared to August 2018. Economists expected a decrease of 0.4%. In August, production rose by 1.1% compared to the previous month, according to a new estimate. Earlier, Eurostat reported an increase in production for August of 1%. Industrial production in the European Union fell by 0.2% in September, following an increase of 0.9% in August.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.95% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Wednesday 14 November 2018

Market Information Wednesday 14 November 2018

Last Tuesday, the OPEC announced that it has reduced its forecast of oil demand for 2019, causing a decrease in oil prices. At the end of the day, the price of a barrel of Brent oil decreased to USD 65, 5.5% lower compared to the price on Monday. The price of WTI oil decreased by 6.1% to USD 55 per barrel.

The British government announced that the negotiating teams reached a draft agreement regarding Brexit. Prime Minister Theresa May has presented the proposal to her Cabinet, which will consider the proposal this afternoon. It is likely that the British and EU negotiators have reached a temporary agreement regarding the checks at border between Northern Ireland and EU-member Ireland, one of the main obstacles in the Brexit negotiations.

Figures from the Japanese government show that the Japanese economy has decreased in the third quarter of 2018 compared to the third quarter of 2017. The economy decreased by 1.2%, compared to an expected decrease of 1.0%. The decrease is mainly caused by occurring natural disasters in Japan in the third quarter.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap is unchanged at 0.96% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Tuesday 13 November 2018

Market Information Tuesday 13 November 2018

Statistics Netherlands (CBS) has announced that Dutch retail sales increased by 1.7% in September 2018 compared to September 2017. Sales volumes grew by 1.9%. Food revenues grew by 3.7%, while turnover in the non-food sector decreased by 0.9%. Online sales increased by nearly 13%.

A report from the OECD shows that indicators for economic growth in its European member states are weakening. The picture is almost the same as a month ago, except that now in Germany, the largest economy in the eurozone, less favorable conditions are noticeable. According to the OECD, France, Italy and Great Britain are also reporting weakening conditions. Stable growth has been reported in the United States, Japan, China and Canada. In India, growth is increasing, while Brazil and Russia are showing lower growth.

Destatis announced that inflation in Germany increased to 2.5% in October 2018. In September 2018, inflation was 2.3%. Economists expected an increase to 2.4%. German inflation is now at the highest level in 10 years.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.96% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Monday 12 November 2018

Market Information Monday 12 November 2018

Statistics Netherlands (CBS) reported that the number of households with a low income increased last year. In total, 599,000 households had a low income in 2017, 27,000 more than in the previous year. Statistics Netherlands classifies low income by EUR 1040 per month for a single person. For a couple with two children, the limit is set at EUR 1960 per month.

According to Statistics Netherlands, the number of bankruptcies in October 2018 increased with a total of 306 bankruptcies. Compared with September 2018 it is an increase of forty companies. In September the lowest level in bankruptcies was recorded.

Saudi Arabia will reduce its oil production by half a million barrels per day by December 2018. This decision was made according to price decrease in oil. A barrel of Brent oil decreased to USD 70 last week for the first time in six months. In September, the price was around USD 86 for a barrel of Brent oil. US WTI oil also decreased in price last week by about 5%. It is not yet clear whether Saudi Arabia gets the other members of Opec to reduce its oil production.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.97% 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) Eurozone
Consumer Price Index (CPI) United States

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Friday 9 November 2018

Market Information Friday 9 November 2018

The Federal Reserve has announced in a press statement that it is on schedule to increase the official interest rate in December. For now, the Fed maintains the current rate, which is between 2 and 2.5%, the statement implies that in December this will be increased by 25 bp.
The Fed observes a growing economy in terms of jobs and consumer spending and uses these numbers to justify their policy. By doing so, the Federal Reserve ignores warnings issued by President Trump. Trump believes that raising the interest rates will hamper the economy too strongly.

The stock market in Asia is declining after a one-month high on Friday. MSCI’s broadest index of Asia-Pacific shares fell 1.3%, Hong Kong’s Hang Seng dropped 2.4% and the Shanghai Composite Index declined by 1.2%.
Analysts expect the same trend to occur on the European stock market. With futures showing indicating that the German DAX will open approximately 0.25% lower, the Dutch AEX 0.30% and the French CAC 0.23%.
The American equity markets shows similar movements, with the S&P 500 losing 0.25% and the Nasdaq 0.53%. The biggest losers were energy stocks as the price of crude oil dropped.

The FIOD warns banks to monitor their customers more carefully with regards to money laundering practices. If they are following criminal money and this trail ends with a bank they will be held equally accountable.
This announcement follows after a lawsuit against ING, in September they settled four money laundering cases for a record number of EUR 775 million. On monday the university of Utrecht published a study which showed that in the Netherlands an amount of EUR 16 billion is laundered on a yearly basis.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 1.00% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Thursday 8 November 2018

Market Information Thursday 8 November 2018

The German Federal Statistical Office reported that Germany’s exports decreased by 0.8% in September 2018 compared to August 2018. Economists expected an increase in exports of 0.4%. German imports decreased by 0.4% in September 2018 compared to a month earlier. Economists expected imports to increase by 0.4%.

The Chinese government published that Chinese exports increased by 20.1% in October 2018 on an annual basis. Economists expected an increase of 14.2%. Chinese imports increased by 26.3% in October 2018 on an annual basis. Economists expected an increase of 17.7%.

Yesterday, the European statistical office Eurostat reported that retail sales in the eurozone in September 2018 remained the same as in August 2018. Economists expected retail sales in the eurozone to increase by 0.1%.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.99% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Wednesday 7 November 2018

Market Information Wednesday 7 November 2018

After Democrats won control of the U.S. House of Representatives and Republicans keep control of the Senate, stock markets open slightly positive. The positive opening of the AEX, is also partly caused by the quarterly figures from ABN AMRO and Ahold Delhaize.

On the interest and currency markets, the results of an anticipated split in the U.S. Congress is more clear. U.S. Ten-year Treasury yield fell about five basis points to 3.18%. Treasury yields declined and the dollar retreated against most major peers.

Oil prices decreased slightly on Wednesday. The price of a barrel of WTI amounted to USD 66.45, this is 0.6% below their last close. Brent and WTI have slumped by 17.4% and 19.7% respectively from recent peaks in early October.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.98% 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. For more history of these rates or other rates feel free to ask:
marktinformatie@zanders.eu.

Market Information Tuesday 6 November 2018

Market Information Tuesday 6 November 2018

Statistics Netherlands stated Tuesday that consumer prices in the Netherlands have increased by 2.1% in October 2018, measured on a year-on-year basis. In September 2018 the price increase amounted to 1.9%. Using the European harmonized method prices increased by 1.9% in October and 1.6% in September. The European average inflation was an increase of 2.2%.

Market research agency ISM stated that activity in the United States service industry has grown at a slower rate in October 2018 than in September. The Non-Manufacturing PMI index fell to 60.3 in October, from 61.6 in September. Economists had expected a value of 59.1.

Turkish inflation increased to 25.24% in October 2018 on a year-on-years basis. The Turkish lira has depreciated considerably this year, due to the influence of president Erdogan on monetary policy and the ongoing diplomatic crisis between Turkey and the United States. Last September the Turkish central bank increased interest rates in a bid to curb inflation.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.97% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Monday 5 November 2018

Market Information Monday 5 November 2018

Last Friday, the US Department of Labor reported employment figures in the United States. In October 2018, the change in non-farm payrolls increased by 250,000 compared to September 2018. Economists had expected an increase of 200,000. The unemployment rate remained constant at 3.7%, the lowest level in 48 years.

Chinese President Xi Jinping spoke out in a speech against the protectionist trade policy of US President Donald Trump. According to Xi, who spoke at a trade exhibition in Shanghai, ‘practices of law of jungle and winner takes all are a dead end’. Furthermore, Xi promised to lower Chinese import tariffs and to further open up the Chinese market to foreign companies. The Chinese and American governments have been negotiating for months on a new trade agreement.

Figures from market researcher Markit show that the activity in Italian industry in October 2018 showed the strongest contraction in almost 4 years. The industrial PMI was 49.2. Economists expected an index of 49.7. In the explanatory notes it is stated that Italian companies are suffering from declining global demand and the current political uncertainty in the country.
The following macro-economic figures will be published in the coming week:
Producer Price Index (PPI) Eurozone
Producer Price Index (PPI) United States
Interest rates United States

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.98% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Friday 2 November 2018

Market Information Friday 2 November 2018

In October, the purchasing managers index (PMI) for the United States services sector decreased compared to September 2018. The PMI, which is published by research agency ISM, decreased to 57.7 against 59.8 in September. This indicates a decline in growth of economic activity in the services sector. Economists expected a decrease of the index to 59. A level above 50 indicates growth of economic activity.

The Dutch Association of Purchasing Management (Nevi) published the Dutch Purchasing Managers Index (PMI). According to Nevi, the PMI reached a level of 57.1 in October 2018 against 59.8 in September 2018. A value above 50 indicates growth.

According to the U.S. Commerce Department, construction spending in the United States remained stable in September 2018 compared to August 2018. In September, US construction spending rose by 0.8% which concurs with forecasts of analysts.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap is unchanged at 0.96% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.

Market Information Thursday 1 November 2018

Market Information Thursday 1 November 2018

Yesterday, Eurostat announced that the unemployment rate in the Eurozone in September 2018 remained the same compared to August 2018. This means that unemployment remains at 8.1%, the lowest level since November 2008. For the entire European Union, unemployment was 6.7%.

The American payslip processor ADP has announced that employment in the private sector in the United States has grown strongly in October 2018. According to ADP, 227,000 jobs were created in October. Economists expected on average an increase of 187,000 jobs.

Eurostat published provisional figures which show that inflation in the euro area in October 2018 rose to 2.2% on a yearly basis, compared to 2.1% in September 2018. The inflation rate corresponded with expectations of economists. Core inflation, excluding the impact of food and energy prices, was 1.1% in October 2018, compared to 0.9% in September.

The 6M Euribor is unchanged at -0.26% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.96% 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. For more history of these rates or other rates feel free to ask: marktinformatie@zanders.eu.