Market Information Friday 29 June 2018

Market Information Friday 29 June 2018

Yesterday, the Kremlin announced that Russian President Vladimir Putin and US president Donald Trump will meet on July 16, 2018 in Helsinki. The Russian business newspaper Kommersant reports that Syria and disarmament issues will be discussed. Additionally, Trump wants to talk about the current situation in Ukraine.

The third estimation by the US Department of Commerce shows that the US economy increased by 2% in the first quarter of 2018 on an annual basis. In the last quarter of 2017, the economy of the United States grew by 2.9%. Economists expect economic growth to accelerate in the second quarter of 2018 caused by tax cuts in the US.

Today the European statistics office will publish preliminary figures on inflation for June for the entire euro zone. The increased price of oil further increases the level of inflation in euro zone countries. The inflation is expected to be closer to the level that the European Central Bank (ECB) is aiming for, of almost 2%.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.

Market Information Thursday 28 June 2018

Market Information Thursday 28 June 2018

Figures from the European Central Bank (ECB) show that companies have drawn additional credit in May 2018 with an amount of EUR 22 billion, compared to April 2018 this amount has doubled. On an annual basis, the growth rate increased from 3.3% to 3.6%, such a percentage has not been seen over the past nine years. With the additional credit many businesses want to expand, which promotes economic growth.

Yesterday, a Climate Act was presented in the Dutch Parliament. The law legally establishes climate targets for the first time. The most important component is that greenhouse gas emissions must be reduced in 2050 to a level that is 95% lower than in 1990. In addition, the Climate Act wants energy production in 2050 to be CO2-neutral.

According to the real estate American brokerage industry, the number of registered home sales in the United States decreased by 0.5% on a monthly basis in May 2018. In April 2018, these future or temporary house sales decreased by 1.3%. Economists expected an increase of 0.5% on average in May 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.89% 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: update@zanders.eu.

Market Information Wednesday 27 June 2018

Market Information Wednesday 27 June 2018

Market researcher Conference Board stated Tuesday that consumer confidence in the United States has decreased in June 2018 compared to May 2018. The Consumer Confidence Index fell to 126.4 in June 2018, compared to a revised level of 128.8 in May 2018. Economists forecasted a lower decline in consumer confidence to a level of 128.

House prices in the United States have increased less than expected in April 2018. The S&P/Case-Shiller national home price index, which reflects the average sales price development based on 20 U.S. cities, increased by 0.20% on a monthly basis and 6.56% on an annual basis. Economists forecasted an increase of 0.40% on a monthly basis.

The French institute for research and statistics (INSEE) reported that in June consumer confidence in France has decreased to 97, compared to a level of 99 in May. Economists forecasted that consumer confidence would remain stable from May to June. This decrease in consumer confidence is expected to be matched by a decrease consumer spending, which will decrease overall French economic activity.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point 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: update@zanders.eu.

Market Information Tuesday 26 June 2018

Market Information Tuesday 26 June 2018

In April 2018, the world trade volume has increased by 0.7% compared to March 2018, as announced by the Netherlands Bureau for Economic Policy Analysis (CPB) in its monthly world trade monitor. In March 2018, the world trade volume decreased by 1.2%, which was in line with economists’ expectations. Worldwide industrial production increased by 0.3% in April 2018. In March 2018, the industrial production also increased by 0.3%, which was as expected according to the CPB.

According to the United States (US) ministry of Trade, sales of new houses in the USA have increased by 6.7% in May 2018 in comparison to April 2018. Economists expected a rise of 0.8% in house sales. In April 2018, sales decreased by 3.7% on a monthly basis.

German entrepreneurs’ confidence in the German economy has decreased in June 2018 compared to May 2018, according to research institute Ifo. The Ifo confidence index, reflecting the expectations for economic developments in the coming three to six months, reached a level of 101.8, against 102.2 in May 2018. The level is in line with economists’ expectations.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 0.89% 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: update@zanders.eu.

Market Information Monday 25 June 2018

Market Information Monday 25 June 2018

According to research bureau Markit, activity in the United States industry decreased in June 2018. The purchasing managers index (PMI) for the US industry reached a level of 54.6 in June 2018, down from a level of 56.4 in May 2018. Economists expected a level of 56.1. A PMI level higher than 50 is an indication of growth.

In the first quarter of 2018, the growth of the French economy has slowed down, compared to the fourth quarter of 2017, according to numbers of the French statistics bureau Insee. The economic growth on quarterly basis amounted to 0.2%, equal to earlier prospects. Last period, the economic growth levelled at 0.7% on a quarterly basis.

American president Donald Trump plans on escalating the trade war with China even further by putting restrictions Chinese investments in American technology companies, according to inside sources. Restrictions will be applied to investments in companies active in ICT, aircraft, electric cars, robotics, pharmacy and biotechnology.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.89% 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: update@zanders.eu.

Market Information Friday 22 June 2018

Market Information Friday 22 June 2018

The largest banks of the United States have successfully passed the first phase of the stresstest carried out by the Federal Reserve (Fed). In the stresstest, 35 large banks were investigated. According to the Fed, the banks met the requirements in case of a severe economic crisis. This is the third year in a row that all banks investigated passed the test.

In the first quarter of 2018, the gross profit before tax of non-financial businesses in the Netherlands amounted to 59.8 billion euro. That is 1.9 billion euro more than in the first quarter of 2017, as announced by Statistics Netherlands (CBS). Last quarter’s gross profit is the highest since the start of measurement by CBS in 1995.

According to Statistics Netherlands (CBS), the volume of investments in material fixed assets in the Netherlands in April 2018 was 11.1% larger than in March 2018. Largest increases were reported for housing, infrastructure, cars and machinery. According to the investment radar of the CBS, circumstances for investments are more favourable in June 2018 than in April 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 2 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.

Market Information Thursday 21 June 2018

Market Information Thursday 21 June 2018

The International Monetary Fund (IMF) has agreed upon the emergency credit of 50 billion US dollars for Argentina in the coming three years. The Argentine government had asked the IMF for assistance in order to support the peso and contain the economic crisis. The loan of 50 billion US dollars is the largest in the history of the IMF. Argentina can immediately make use of 15 billion US dollars, of which half is meant to finance the budget deficit.

According to the United States (US) real estate association, the sales of existing housing in the US has decreased by 0.4% in May 2018 compared to April 2018. The sales amounted to 5.43 million houses on a yearly basis, against 5.45 million in April. Economists expected a sales increase of 1.1%, amounting to 5.52 million houses.

In May 2018, unemployment in the Netherlands has stabilized. In the fifth month of the year, authorities counted 352,000 unemployed, which contributes to 3.9% of the working population. In April 2018, the unemployment rate was the same, according to Statistics Netherlands (CBS).

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased 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: update@zanders.eu.

Market Information Wednesday 20 June 2018

Market Information Wednesday 20 June 2018

According to the German Federal Statistical Office Destatis producer prices in Germany increased by 0.5% in May 2018 compared to the previous month. Economists had expected an increase of 0.4%. On an annual basis the producer prices increased with 2.7% in May 2018.

Figures from the Dutch Central Bureau of Statistics (CBS) show that Dutch companies have purchased more services from foreign companies in recent months, mainly in the marketing and brokerage services. In the first quarter of 2014, Dutch companies spent EUR 0.75 billion on advertising agencies and market research (marketing) compared to EUR 2.2 billion in the first three months of 2018. The purchase of business advice and public relations (brokerage service) almost doubled from EUR 1.1 billion to EUR 2.0 billion in the same period.

Based on the yearly report of the European Union Chamber of Commerce (EuCham) on the confidence among the members, it appears that 61% of the respondents now believe that Chinese companies are just as innovative as companies from Europe. Last year that was less than 50%.

The 6M Euribor is unchanged at -0.27% 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. For more history of these rates or other rates feel free to ask: update@zanders.eu.

Market Information Tuesday 19 June 2018

Market Information Tuesday 19 June 2018

The Organization of the Petroleum Exporting Countries (OPEC) is preparing an agreement to increase the production of oil. Currently, OPEC members and several other countries, including Russia, are producing 32 million barrels of oil per day. Saudi-Arabia and Russia, however, are aiming for a production increase of 1.5 million barrels. Other OPEC members, including Iran and Iraq, intend to veto the production increase at the next OPEC meeting, this Friday. The OPEC is working on a compromise in which the oil production will increase with a maximum of 0.6 million barrels each day. The OPEC members will also discuss the role of Russia in the organization, which so far is not a member of OPEC, but does support the agreement to limit the production of oil, that the OPEC member states enacted in 2016.

According to a report by CPB Netherlands Bureau for Economic Policy Analysis, economic growth in the Netherlands will slow down to 2.9% in 2018 and 2.7% in 2019. Last year, economic growth reached peak levels at 3.2%. CPB further expects inflation to rise to 2.3% in 2019, while unemployment will decrease to 3.4% of the labor force. Last week, the Dutch central bank issued a report with a similar outlook for 2018 and 2019.

In the first quarter of 2018, the job vacancy rate in the Eurozone was 2.1%, up from 2.0% in the final quarter of 2017. The job vacancy rate was highest in services, at 2.4%. According to Eurostat, the vacancy rate was lowest in industry and construction, at 1.9%. In the Netherlands vacancies amounted to 2,8% of the work force in the first quarter of 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased 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: update@zanders.eu.

Market Information Monday 18 June 2018

Market Information Monday 18 June 2018

According to figures from the Japanese government, Japan’s exports increased in May 2018. Exports increased by 8.1% on an annual basis. Economists expected an increase of 7.5% on export. Imports of Japan increased by 14% in May 2018, after an increase of 5.9% in April 2018.

Monday investors showed concerns about the intensifying confrontation between the U.S. and China which resulted in stock market decreases in Asia. From July 6, President Donald Trump will increase import duties by $ 50 billion. China responded by putting an additional 25% levy on U.S. agricultural and auto exports.

Figures published by Statistics Netherlands show that revenues from exports of products and services to the United Kingdom decreased by 0.4% in 2017 compared to 2016. These revenues amounted to EUR 22.7 billion. Export earnings in 2017 amounted to 3.1% of the Dutch GDP.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 3 basis points 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: update@zanders.eu.

Market Information Friday 15 June 2018

Market Information Friday 15 June 2018

Yesterday, the European Central Bank announced to stop its Quantitative Easing programme. The current programme of EUR 30 billion per month will be reduced to EUR 15 billion per month in October 2018, after which the program will be discontinued by the end of this year. A precondition is that current economic developments continue in line with the expectations of the ECB. ECB-president Mario Draghi said in a statement that the ECB will maintain its main interest rate at 0.00%, until at least the summer of 2019. If economic conditions deteriorate due to e.g. Brexit or a trade war with the US, the purchase program will be re-established. The EUR/USD exchange rate dropped to a level below 1.16 after Draghi’s speech.

The Bank of Japan (BoJ) left its main interest rate unchanged at -0.1%. In addition, the BoJ announced that the bank lowers its inflation expectations to a range of 0.5% to 1.0%. According to BoJ governor Haruhiko Kuroda, the lower inflation expectation was the most important reason to also keep the Quantitative Easing programme of JPY 80 trillion per year in place. According to Kuroda, the BoJ is still hopeful that inflation will eventually move towards the inflation target of 2%.

On Friday morning Bloomberg reported that President Trump has given his approval for import duties on Chinese goods, with a net value of USD 50 billion. Earlier had already been leaked that the US government is considering import duties against more Chinese products. A precise date on when the import duties will take effect is at this point unknown. The measures are likely to provoke new countermeasures by the Chinese government against the US.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 4 basis points 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: update@zanders.eu.

Market Information Thursday 14 June 2018

Market Information Thursday 14 June 2018

As expected, the Federal Reserve increased its main interest rate by 25 basis points to a range of 1.75% to 2%. The vote was unanimous. Since December 2015 there have been seven interest rate increases. The Federal Reserve forecasted in total four increases in 2018, of which two increases have already occurred. The US economy is estimated to grow by 3% in the second quarter of 2018, and unemployment is at a historically low level.

Today, Mario Draghi and his European Central Bank (ECB) colleagues will hold their first formal talks on when to end their asset-purchase program. Expectations are split as to whether gradually increasing price pressures will persuade officials to set a timetable now, or if they’ll hold off to better judge risks including an economic slowdown and a mounting trade dispute.

The European statistical office Eurostat reported that the labor market in the euro countries improved in the first quarter of 2018. With an increase of 0.4% compared to the previous quarter. A total of 157.2 million men and women in the euro countries had a job last quarter, which is the highest level ever measured.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased 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: update@zanders.eu.

Market Information Wednesday 13 June 2018

Market Information Wednesday 13 June 2018

Figures published by the United States Department of Labor Statistics show that inflation in the United States increased in May 2018 to 2.8% on an annual basis, compared to 2.5% in April 2018. The increase is in line with analyst expectations. Core inflation, which excludes energy and food prices, was 2.2% in May, compared to 2.1% in April. Furthermore, consumer prices rose by 0.2% on a monthly basis in May.

Figures published by German research agency ZEW show that German investors and analysts have less confidence in the German economy. The ZEW-index, which measures confidence in the German economy for the next three to six months, decreased from minus 8.2 in May 2018 to minus 16.1 in June 2018. This drop marks the lowest level in investor confidence since 2012. Analysts expected a decrease to minus 14.0.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 2 basis points 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: update@zanders.eu.

Market Information Tuesday 12 June 2018

Market Information Tuesday 12 June 2018

The invested capital of Dutch insurers, which amounted to EUR 457 billion in 2016, decreased with EUR 17 billion in 2017 to EUR 440 billion. According to the Dutch central bank, the decrease is the result of decreasing liabilities, worth EUR 23 billion. The asset mix of Dutch insurers barely changed compared to 2016: approximately half of all capital was invested in bonds. Dutch and German government bonds and corporate bonds of United States listed corporates were popular investment products.

In the three-month period up to April 2018, the production of the British industrial sector decreased with 0.5%. In April 2018 alone, the decrease was 0.8% compared to March 2018, the largest one-month decrease since October 2012. The British Office for National Statistics lists decreasing production of electrical equipment and basic metals and metal products as the main contributors. The decrease is supported by widespread weakness throughout the production industry due to a reduction in the growth rate of export and domestic turnover.

In the first quarter of 2018, the economy of Turkey expanded with 7.4% compared to the first quarter of 2017. The increase follows a 7.3% increase in the last quarter of 2017. The increase was supported by all sectors of the economy, including consumer spending. Just last week, the Turkish central bank increased its benchmark interest rate for the third time in two months in an attempt to stop the freefall of the Turkish lira.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 1.02% 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: update@zanders.eu.

Market Information Monday 11 June 2018

Market Information Monday 11 June 2018

According to Statistics Netherlands (CBS), the declared bankruptcies in May 2018 reduced with ten companies compared to April, with a total number of bankruptcies of 296. In August 2017, the number of bankruptcies reached the lowest level since 2001. Since 2001 the amount of declared bankruptcies has been stabilized.

The new Italian Minister, Giovanni Tria, announced yesterday in a published interview that Italy is not leaving the euro behind. Italian government bonds came under pressure after the new coalition government took office with the populist Five Star movement and the right-wing nationalist Lega. Italy has a large public debt of approximately 132% of the gross domestic product.

The Chinese statistical office reported that producer prices in China increased by 4.1% in May 2018 compared to the previous month, after a rise of 3.4% in April 2018. This was mainly due to higher costs for raw materials such as oil and metals. Economists expexted an increase of 3.9% in producer prices.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 1.01% 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: update@zanders.eu.

Market Information Friday 8 June 2018

Market Information Friday 8 June 2018

In the first quarter of 2018, the Japanese economy decreased for the first time since 2015. The GDP of the third economy of the world decreased by 0.6% on a yearly basis, according to numbers by the Japanese government. In the previous months, the economy dealt with weaker domestic demand and consumption, while capital investments increased. The percentage of decrease is higher than expected by economists.

According to Statistics Netherlands (CBS), the average daily production of the Dutch industry was 5% higher in April 2018 compared to April 2017. The increase is larger than for March 2018 compared to March 2017. For more than two and a half years, the Dutch industry produces more than in the same period of the previous year.

In comparison to the fourth quarter of 2017, the economic growth in the Eurozone has slowed down in the first quarter of 2018, according to European bureau of statistics Eurostat. The economy of the nineteen Euro countries increased by 0.4% in the first three months of 2018 compared to the last three months of 2017. This percentage is in accordance with economists’ expectations. In the fourth quarter of 2017, the economy of the Eurozone increased by 0.7% on a quarterly basis.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 2 basis points to 1.02% 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: update@zanders.eu.

Market Information Thursday 7 June 2018

Market Information Thursday 7 June 2018

Yesterday, stock markets and the euro reacted nervously to statements by Peter Praet about a possible policy change of the European Central Bank (ECB). The chief economist of the ECB argued that the policy meeting on Tuesday 12 June in the Latvian capital Riga will be crucial. The central bankers would then decide when they will end the debt purchase program. This is caused by the increasing confidence of the ECB that inflation is moving in the direction of the 2% target.

Figures reported by the US Department of Commerce show that the deficit on the trade balance of the United States decreased in April 2018 compared to a month earlier. The deficit amounted to USD 46.2 billion, against USD 47.2 billion a month earlier. Economists expected a deficit of USD 49.0 billion for April 2018.

The US Department of Labor announced that labor productivity in the United States, excluding the agricultural sector, increased by 0.4% in the first quarter of 2018. Economists expected an increase of 0.7%. The Unit labor costs in the US increased by 2.9% in the first quarter of 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 6 basis points 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: update@zanders.eu.

Market Information Wednesday 6 June 2018

Market Information Wednesday 6 June 2018

In May, the purchasing managers’ index (PMI) for the United States services sector has increased compared to April 2018. The index, which is published by research agency ISM, increased to 58.6 against 56,8 in April and indicates a surge in growth of economic activity in the services sector. Economists expected an increase of the index to 57.6. A level above 50 indicates growth of economic activity.

Yesterday, market researcher Markit stated that business activity among service providers in the Eurozone grew at a lower rate in May 2018 than in April 2018. The PMI registered 53.6 in May 2018, compared to a value of 54.7 in the previous month.

Figures from statistics agency Eurostat show that retail sales in the Eurozone increased by 0.1% in April 2018 compared to March 2018. Economists expected an increase of 0.5%. The previous estimate of the retail sales in the Eurozone for March 2018 has been revised to an increase of 0.4%. In the European Union as a whole, retail sales increased by 0.4% in April 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.94% 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: update@zanders.eu.

Market Information Tuesday 5 June 2018

Market Information Tuesday 5 June 2018

In the first quarter of 2018, the revenues of the Dutch retail sector increased for the seventeenth quarter in a row. Revenues increased with 2.7% compared to the first quarter of 2017. Trade volume increased with 2.3% over the same period. According to Statistics Netherlands, revenues of supermarkets, pharmacies and furniture supply stores increased the most in the first quarter. The confidence of entrepreneurs in the Dutch retail sector, however, decreased sharply from 14.8 at the start of the first quarter, to 2.4 as a result of lower turnover expectations and higher inventories.

The International Monetary Fund (IMF) is making progress in its talks with Argentina over financial support. The South American country applied for aid last month, after the Argentinian peso sharply decreased in value, followed by an increase in the benchmark interest rate to up to 40%. The devaluation of the Argentinian peso is a threat to the economic recovery of Argentina. Negotiations with the IMF focus on an aid package worth tens of billions of dollars in an attempt to stabilize the currency.

In April 2018, producer prices in the Eurozone were at the same level as in March 2018, reported Eurostat. Compared to April 2017, producer prices increased with 2.0%. In the European Union, producer prices increased with 0.1% in April 2018 compared to March 2018, and 2.4% compared to April 2017. The largest increase occurred in the energy sector.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 2 basis points 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: update@zanders.eu.

Market Information Monday 4 June 2018

Market Information Monday 4 June 2018

Friday, the US Labor Department published that nonfarm payroll employment in the US increased in May 2018 compared to April 2018. In May, the number of jobs increased by 223,000, compared to 159,000 in April. Economists expected the number of jobs to increase by 190,000. The jobs report showed that hourly wages increased by 0.3% in May, compared to 0.1% in April.

According to the U.S. Commerce Department, construction spending in the United States increased by 1.8% in April 2018 compared to March 2018. Economists expected an increase of 0.8%. In March 2018, construction spending increased by 1.7% compared to February 2018.

In line with an earlier estimate, British research agency Markit reported that the industrial activity in the Eurozone increased at a lower rate in May 2018 compared to April 2018. The Purchasing Managers’ Index (PMI) closed at 55.5 in May, down from 56.2 in April, which is partially due to a slowdown of industrial activity in Germany. This is the lowest level of Markit’s PMI in the Eurozone in 15 months.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 3 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: update@zanders.eu.

Market Information Friday 1 June 2018

Market Information Friday 1 June 2018

Yesterday, the outbreak of the trade conflict between the United States and Europe put pressure on the trading floor. European stock exchanges closed at a lower level. As a consequence, the tension around the political issues in Italy have been pushed into the background. In addition to that, Deutsche Bank AG’s new CEO, Christian Sewing, suffered a fresh setback in his efforts to reinvigorate Europe’s largest investment bank as S&P Global Ratings cut the lender’s credit rating.

In April 2018, the number of house sales in the United States has decreased by 1.3% compared to March 2018, as announced by the American association of brokers. Economists expected an increase of 0.4%. In March 2018, the number of purchase agreements increased by 0.6% compared to February 2018.

According to the European statistics bureau Eurostat, inflation in the Eurozone increased to 1.9% on annual basis in May 2018, from 1.2% in April 2018. This is the highest rate of inflation in more than a year. The increase in consumer prices in the Eurozone almost reaches the objective of 2%, set by the European Central Bank (ECB).

The 6M Euribor is unchanged at -0.27% 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: update@zanders.eu.