Market Information Tuesday 31 July 2018

Market Information Tuesday 31 July 2018

Yesterday, The Bank of Japan (BoJ) decided to leave their key policy rate unchanged at -0.1%. This was in line with expectations of analysts. Furthermore, the BoJ announced that it will maintain policy rates at low levels for an extended period of time, due to the low inflation in Japan.

The German statistical agency Destatis announced in a preliminary report that consumer price inflation (CPI) decreased slightly from 2.1% in June 2018 to 2.0% this month. Economists expected inflation to remain at 2.1%. Core inflation, excluding volatile prices of food and energy, was 1.4% in July 2018.

The European Commission (EC) published preliminary figures that show that economic confidence in the eurozone decreased slightly. The index that measures confidence fell from 112.3 in the previous month to 112.1 in July 2018. Economists expected a level of 112.0. According to the EC, confidence in the industrial and retail sector decreased, while confidence in the services sector increased.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 2 basis points 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Monday 30 July 2018

Market Information Monday 30 July 2018

Statistics Netherlands (CBS) reported that producer confidence decreased in July 2018, with a confidence indicator of 6.3. In June 2018 the producer confidence was 7.7. The decrease is mainly caused by lower confidence of producers in order books and expected economic activity.

According to Statistics Netherlands (CBS), the prices charged by manufacturers for their products increased by 5% in June 2018 compared to a year earlier. The prices mainly increased in the petroleum industry, as a result of higher oil prices. In June 2018, approximately EUR 65 for a barrel of WTI oil had to be paid.

This week, the Federal Reserve announces their interest rate decisions on Wednesday and are likely to leave the interest rate unchanged. The Bank of England also announces their decision on interest rates on Thursday. In addition, European inflation rates will be announced tomorrow and on Friday the monthly job report will follow in the US.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Friday 27 July 2018

Market Information Friday 27 July 2018

Yesterday, ECB President Mario Draghi announced at the press conference after the monetary policy meeting that the European Central Bank (ECB) will hold on to the policy announced in June 2018. The purchase program will be halved to EUR 15 billion per month starting October 2018. Net purchases will be stopped after December 2018.

According to the French statistics office, the French economy grew at the same rate in the second quarter compared to the first quarter of 2018. Growth was 0.2% compared to the first quarter of 2018. According to the French statistical office, growth was constrained due to weaker consumer spending and a series of national strikes.

The US Department of Commerce reported that durable goods orders in the United States increased by 1% in June 2018 compared to last month. Economists expected a 3% increase. In May 2018, orders for sustainable products declined by 0.3%.

The 6M Euribor is unchanged at -0.27% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Thursday 26 July 2018

Market Information Thursday 26 July 2018

Yesterday the president of the European Commission Jean-Claude Juncker and US president Donald Trump closed a trade agreement. With this agreement, a looming trade war between the United States and Europe seems to be averted. In the agreement it is stated that the European Union will increase their imports of American soy beans and liquid gas. Also, the EU and US agreed to lower import tariffs on industrial products. Besides agreeing on lowering trade barriers and increasing trade, the EU and US will take leading roles the reform of the world trade organisation WTO.

The monthly world trade monitor of the Dutch Bureau for Economic Policy Analysis (CPB) shows that world trade volume increased with 0.4% in May 2018 compared to the previous month. However, according to the CPB, world trade growth is slowing substantially. Especially EU exports to the United States have slowed significantly. According to the CPB, this is a sign that American companies are already anticipating a possible trade war.

The German research institute Ifo stated that German producer confidence decreased in July 2018 to 101.7, compared to 101.8 in June 2018. This is the lowest level in over a year. In an explanatory note the Ifo states that the decrease is mainly caused by concerns of German producers for a possible trade war.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Wednesday 25 July 2018

Market Information Wednesday 25 July 2018

According to research bureau Markit, economic activity in the United States industry increased in July 2018. The purchasing managers index (PMI) for the US industry reached a level of 55.5 in July 2018, from a level of 55.4 in June 2018. Economists expected a level of 55.1. A PMI level higher than 50 is an indication of economic growth.

Yesterday, market researcher Markit stated that business activity among service providers in the Eurozone grew at a lower rate in July 2018 than in June 2018. The PMI registered 54.4 in July 2018, compared to a value of 55.2 in June 2018.

The Turkish central bank announced that the key interest rate will remain unchanged. Earlier this year, the Turkish central bank opted to raise interest rates to combat rising inflation. Because of the decision not to change their key interest rate, inflation is expected rise. After the announcement of the interest rate decision, the Turkish lira devaluated by 4% versus the euro.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Tuesday 24 July 2018

Market Information Tuesday 24 July 2018

Yesterday, the central bank of China issued one-year loans with a total notional of CNY 502 billion (EUR 63 billion) to stimulate the Chinese financial sector. The central bank maintains a neutral monetary policy, which means it does not intend to stimulate the Chinese economy by means of capital injections. However, given the current ongoing trade war and lower economic growth, the central bank appears to be changing course to ensure monetary policy matches economic developments. Furthermore, the central bank advised the largest Chinese banks to purchase corporate bonds to stimulate corporate investments.

Figures published by the National Association of Realtors show that the sale of existing homes in the US decreased with 0.6% in June 2018 compared to May 2018. It is the third month in a row that sales are decreasing. In June, an annualized 5.38 million homes were sold, a decrease of 2.2% compared to June 2017. Declines in the South and West exceeded gains in the Northeast and Midwest of the US. An ongoing imbalance in supply and demand pushed the median sale price to a new all-time high in June.

In May 2018, consumer spending in the Netherlands increased with 1.9% compared to May 2017. According to Statistics Netherlands, the increase is lower than in previous months. The largest increases in spending occurred in food supplies and services. Spending on durable goods, including motor vehicles, furniture supplies and clothing increased with just 1.0% in May 2018, compared to an increase of close to 8% in April.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 2 basis points 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Monday 23 July 2018

Market Information Monday 23 July 2018

Figures from Statistics Netherlands show that in May 2018 companies, governments and households invested 1.9% more in buildings, machinery and vehicles on a yearly basis. Most investments were made in homes, infrastructure and machinery.

Dominic Raab, the new British brexit minister, believes that an agreement on the brexit with the European Union can be arranged in October 2018. The agreement has already been drafted for 80%. The minister emphasized that it still is possible that negotiations will not succeed and therefore the United Kingdom might have to prepare for a separation without appointments, a hard brexit.

Figures from the Treasury International Capital (TIC) flow report from the US Treasury Department show that Russian foreign exchange managers sold USD 81 billion in US treasuries in April 2018 and May 2018. With remaining USD 14.9 billion of state loans, Russia is no longer part of the category of ‘major foreign holders’, which includes 33 countries – the Netherlands is ranked at position 24 with USD 45.1 billion.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 3 basis points 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Friday 20 July 2018

Market Information Friday 20 July 2018

Yesterday, the British pound decreased to its lowest level in ten months, to USD 1.30. The last decrease in the British Pound was largely influenced by retail sales. Retail sales decreased with 0.5% in June 2018 compared to May 2018. Economists expected an increase of 0.2% in retail sales.

According to the Conference Board research firm, the prospects for the US economy improved in June 2018. The economic barometer increased by 0.5% last month. Economists expected an increase of 0.4%. In May the index increased by 0.2%.

The US Department of Labor announced that the number of first applications for unemployment benefits in the United States decreased in the past week to 207,000 applications. A week earlier, applications amounted to 215,000 applications. On average, economists expected a slight increase in unemployment applications to 220,000.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 0.86% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Thursday 19 July 2018

Market Information Thursday 19 July 2018

Yesterday, the US Department of Commerce published figures showing that the number of homes under construction in the United States decreased by 12.3% in June 2018 compared to May 2018. The construction amounted to 1.17 million houses on an annual basis. In average, economists expected a decrease of 2.2%. In May, housing construction increased by 4.8%.

According to Statistics Netherlands, unemployment in the Netherlands remains stable at 3.9% in June 2018. In absolute terms, 345,000 people are unemployed. Unemployment in the Netherlands has been stable for months. In the second quarter of 2018, unemployment was 3.9% as well. Since early 2014, unemployment has halved compared to June 2018.

Since yesterday the European Union (EU) imposed on Chinese e-bikes with high import duties, ranging from 21.8% to 83.6%. Earlier, the European Commission also imposes high import duties on Chinese low-priced steel and low-priced solar panels. The EU is China’s most important trading partner. China exported EUR 375 billion worth of goods to the EU last year. The EU exported EUR 198 billion worth of goods to China.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.86% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Wednesday 18 July 2018

Market Information Wednesday 18 July 2018

Yesterday, the president of the Federal Reserve (Fed), Jerome Powell announced that the Fed will continue to gradually increase the official interest rates. Powell further stated that gradually increasing the interest rate is the best response to the expected development of the US economy, and the best instrument to maintain the inflation target of 2%. Last June the Fed raised interest rates for the second time in 2018, the Fed projects to raise interest rates twice more in 2018 and three times in 2019.

The Federal Reserve also released the Industrial Production and Capacity Utilization report yesterday. The Fed reports that industrial production in the United States has increased by 0.6% in June 2018 compared to May 2018. Economists forecasted an increase of 0.5% for the same period. Additionally, the previously reported growth in May 2018 has been revised from a decrease of 0,1% to a growth of 0.5%.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.87% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Tuesday 17 July 2018

Market Information Tuesday 17 July 2018

In May 2018 the countries in the euro area exported goods worth EUR 189.6 billion to countries outside the euro area, a decrease of 0.8% compared to May 2017. Imports increased with 0.7% in May compared to last year, at EUR 173.1 billion. The decrease in exports and the increase in imports caused a decrease in the euro area trade surplus from EUR 19.3 billion in May 2017 to EUR 16.5 billion in May 2018. The trade surplus of the 28 countries in the European Union was EUR 0.2 billion at the end of May.

Yesterday, the price of a barrel of Brent oil decreased with 3 percent amidst growing concerns about the trade war between the United States and China and reports that Saudi Arabia is prepared to export more oil to Asian countries. Saudi Arabia is one of the most-important OPEC members and indicated at last month’s OPEC meeting that it is planning to increase the production of oil. Meanwhile, the United States indicated that officials are considering using part of the emergency oil stockpiles in an attempt to further decrease the oil price. Together, both countries produce approximately one fifth of the world supply of crude oil.

According to the Statistics Netherlands’ Business Outlook indicators, the economy of the Netherlands is performing above the long-term trend on all indicators. Consumer confidence remains high and above the long-term trend, whereas producer confidence decreased slightly in July, yet still above the twenty-year average.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Monday 16 July 2018

Market Information Monday 16 July 2018

The National Bureau of Statistics of China stated that in the second quarter of 2018 the Chinese economy grew with 6.7% on an annual basis, versus 6.8% in the first quarter of 2018. The lower growth was partly caused by lower investments in infrastructure. As a response to the news ING Bank lowered its growth expectations for China in 2018 from 6.75% to 6.65%. According to the bank, the looming trade war with the United States will mean economic growth will decrease even further. For the long term the Chinese government has a 6.5% annual growth rate target.

Credit rating agency Fitch lowered the credit rating of Turkey from BB+ to BB. Furthermore, it lowered the outlook from stable to negative. As most important reasons for the downgrade Fitch mentions concerns of the new economic policy of the Turkish government and the first measures the new Turkish government took after the elections in June 2018. Also, rising inflation and the weak Turkish lira are named as reasons for the downgrade.

Statistics Netherlands stated that turnover of the Dutch retail sector in May 2018 increased with 3.4% compared to the previous month. The sales volume of the sector increased with 3.2%. A turnover increase was realised by the food sector and non-food sector alike. Online shops increased their turnovers by 13.5%.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.87% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Friday 13 July 2018

Market Information Friday 13 July 2018

Yesterday, the British government announced the results of the white paper, in which the British government reflects on its vision of the future relationship with the EU. Free movement of goods and the customs union, which must prevent a visible border between Ireland and the United Kingdom are seen as the ‘soft brexit’. On the other hand, the British insist on considerably more autonomy for the services sector. Banks and other parties in the financial sector can count on new barriers once the United Kingdom leaves the European Union.

According to the report of the European Court of Auditors published yesterday, the European Commission (EC) does not pay close attention to the fiscal rules for EU countries. In a number of Member States, the EC insufficiently monitors that they reduce their debt. The agreements on this, in the Stability and Growth Pact in 1997, states how the EU countries must keep their budget deficit below 3% and their debt below 60% of the gross national product.

The partners of the United States in NATO have made commitments about increasing their military expenditures. In concrete terms, this means that the partners reaffirmed to spend 2% of their gross domestic product (GDP) on defense by 2024. Currently only Poland, Greece, the United Kingdom, Estonia and Latvia meet the 2% requirement.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Thursday 12 July 2018

Market Information Thursday 12 July 2018

On Tuesday night, Washington announced that the US government is going to levy charges on Chinese goods worth USD 200 billion. The new measure follows the introduction of the US sanction of last Friday, July 6, 2018. At that time, the US imposed levies on Chinese products worth USD 34 billion. The Chinese ministry of trade is preparing countermeasures and also claims to submit a complaint to the World Trade Organization (WTO).

Yesterday, at the start of a two-day NATO summit in Brussels, US President Donald Trump turned his attention to Germany. Trump stated that Germany is a ‘prisoner’ of Russia due to the gas deals that would increase dependence on Russian gas. Trump also sees the pipeline as a competitor of liquefied gas (LNG) that could be imported from the United States.

According to figures from the US government, producer prices in the United States increased by 0.3% in June 2018 compared to the previous month. In May 2018, producer prices increased by 0.5% on a monthly basis. Economists expected an increase of 0.2% in the June 2018.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Wednesday 11 Juli 2018

Market Information Wednesday 11 Juli 2018

Figures published by the European Statistical Office Eurostat show that house prices in the Eurozone in the first quarter of 2018 increased by 4.5% compared to the first quarter of 2017. House prices in the Netherlands increased by 9.3% in the same period. The largest annual increase in house prices (plus 13.7%) in the Eurozone was in Lithuania, the strongest annual decline (minus 0.4%) was in Italy. In the first quarter of 2018, house prices in the European Union increased by 4.7% on an annual basis.

According to figures published by the British bureau of statistics, the British economy has grown by 0.3% in May 2018. The economic growth is mainly caused by increased activity in the construction, retail and IT sectors. On August 2nd, the Bank of England (BoE) will decide on their interest rate policy, for which economic growth is an important factor.

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 16.1 in June 2018 to minus 24.7 in July 2018. Analysts expected a decrease to minus 18.9.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Tuesday 10 July 2018

Market Information Tuesday 10 July 2018

In May 2018 the average daily industrial output of the Dutch industrial sector was 3.2% higher than in May 2017. Figures published by Statistics Netherlands show that output levels of the Dutch industrial sector have been increasing for two and a half years. In May 2018, the output of the machine industry increased the most, with close to 7% compared to May 2017. Meanwhile, the output of the chemical industry decreased with 0.8% over the same period.

Yesterday, European Central Bank President Mario Draghi reiterated his vision for a common euro area deposit insurance scheme. A common system will allow banks to insure deposits with other banks of up to EUR 100.000. According to Draghi, the insurance scheme is crucial in underpinning consumer confidence in the financial industry and to avoid future bank runs. The scheme would be the culmination of Draghi’s vision of a full common euro area banking union. The current deposit insurance scheme is organized on a country level.

The OECD published a report yesterday which shows that growth momentum in the OECD area is stable. Growth momentum in China increased, the OECD indicators show, while US growth stabilized. In the euro area, growth momentum is slightly decreasing, yet remains positive. The OECD indicators tend to precede turning points in economic activity by approximately six months.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.87% 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. Should you require more information about these rates, please contact us at marktinformatie@zanders.eu.

Market Information Monday 9 July 2018

Market Information Monday 9 July 2018

Last Friday, the US Labor Department published figures of nonfarm payroll employment in the US. In June 2018, the number of jobs increased by 213,000 compared to May 2018. Economists expected the number of jobs to increase by 195,000. The jobs report showed that hourly wages increased by 0.2% in June, compared to 0.3% in May.

According to the German Federal Statistical Office Destatis, German exports increased in May 2018. Exports increased by 1.8% compared to April 2018. Economists expected an increase of 0.7%. Imports increased by 0.7% during the same period, after an increase of 2.2% in April 2018.

Also, the German Federal Statistical Office published that industrial production of the German industry increased by 2.6% in May 2018 compared to April 2018. Economists had expected an increase of 0.3% In April 2018, industrial production in Germany decreased by 1.3% compared to the previous month.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 0.86% 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 6 July 2018

Market Information Friday 6 July 2018

Federal Reserve policy makers will not be influenced by the increased trade tensions. The minutes of their most recent policy meeting in June 2018 show that the Fed still plans an interest increase. According to the Fed, the United States economy is very strong. In June 2018, the Fed increased official interest rates by a quarter of a percentage point. The most important rate therefore has now a bandwidth of 1.75% – 2.0%, instead of 1.75%.

According to numbers of payroll service provider ADP, employment opportunities in the United States business industry grew at a lower pace in June 2018 than in May 2018. In June 2018, the number of jobs increased by 177,000. In May 2018, this number amounted to 189,000, after being corrected from 178,000. Economists expected an increase of 190,000 jobs in June 2018.

In May 2018, factory orders in Germany increased by 2.6% on a monthly basis, as announced by the German federal bureau of statistics. Economists expected an increase of 1.1%. On a yearly basis, factory orders increased by 4.4% In April 2018, orders decreased by 1.6%. An increase of 1.7% was expected.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.86% 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 5 July 2018

Market Information Thursday 5 July 2018

The real estate agency Dynamis reported that a third more square meters of office space has been rented in the first six months of 2018. In the four major cities, the increase is 49%. Supply decreased by 20% in the four big cities (G4). The Amsterdam region, formerly the largest office market, now has less supply, with a volume of 744,200 in m² available than Rotterdam, with 770,500 m² of supply volume. Due to a decline in supply, the rent levels of offices are increasing. Office rents have increased with 5% nationally. At Amsterdam Zuidas rent prices are the highest with EUR 350 to EUR 450 per square meter.

The German business newspaper Handelsblatt reported that the top executives of Volkswagen, Daimler and BMW discussed with the American ambassador Richard Grenell the possible import duties imposed by the United States on European cars. US President Donald Trump has been threatening for some time with an import charge of 20% on foreign cars and car parts. The import duties will have consequences for the German car industry.

According to figures from market researcher Markit, activity in the services sector of the euro area increased in June 2018. The purchasing managers index, which reflects activity had a score of 55.2. A level of 50 or more indicates growth. Economists expected an index of 55.0.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.87% 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 4 July

Market Information Wednesday 4 July

Based on preliminary figures published by Eurostat, the volume of retail trade in the Eurozone remained equal from April 2018 to May 2018. Economists expected an increase of 0.1%. For the entire European Union (EU), the volume of retail trade increased by 0.3% in May 2018.

According to European statistics bureau Eurostat, producer prices in the Eurozone have increased by 0.8% in May 2018 compared to April 2018. Economists expected an increase in producer prices of 0.5%. In April 2018, producer prices in the Eurozone remained stable compared to the previous month. Producer prices for the EU increased by 1.0% in May 2018.

According to market researcher IHS Markit, the United Kingdom construction sector experienced a higher than expected growth in 2018. The purchasing managers’ index of the UK construction sector increased from 52.5 in May 2018 to 53.1 in June 2018, indicating construction sector growth is accelerating in the UK. Economists however, expected the growth of the construction sector to remain stable in June 2018. The increase in growth is largely explained by an overall rise in new orders and in particular an increase in commercial building.

Today stock markets in the United States are closed due to Independence Day.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.86% 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 3 July 2018

Market Information Tuesday 3 July 2018

In May 2018, the eurozone unemployment rate was unchanged from the previous month, at 8.4% of the labor force. Approximately 13.6 million residents were unemployed at the end of May. Eurostat stated that the unemployment rate is still at a level last reported in December 2008. The unemployment in Greece was the highest of the eurozone countries, where one fifth of the labor force was unemployed at the end of May.

Yesterday, IHS Markit reported that the eurozone PMI decreased in June 2018 compared to May 2018 to a level of 54.9. Markit stated decreasing production output growth and new orders as well as subdued levels of new export business as the primary reasons for the slowdown. Markit also noted that supply chain pressures and rising oil prices increased input cost inflation to a four-month high.

Figures published by Reuters show that oil production of the OPEC countries increased with 300.000 barrels in June 2018 compared to May 2018. Saudi Arabia produced more oil at 10.7 million barrels per day and came close to reaching an all-time high daily output of 10.72 million barrels. According to analysts, this level could only have been achieved if Saudi Arabia started increasing its production before the last OPEC meeting, which took place near the end of June.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 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 Monday 2 July 2018

Market Information Monday 2 July 2018

Last Friday, European statistical office Eurostat reported that the inflation rate in the Eurozone was 2.0% annually in June 2018. Inflation increased compared to May 2018, when inflation was 1.9% annually. The increase in consumer prices in the Eurozone reaches the target of 2% set by the European Central Bank (ECB). Core inflation (without food and fuel prices) was 1.0% in June, compared to 1.1% in May.

Statistics Netherlands (CBS) reported that prices of Dutch-manufactured products increased by 3.7% in May 2018 compared to May 2017. The increase was higher than in April 2018, when prices increased by 1.0% compared to the previous year. The price increase of products is mainly caused by the strong increase of crude oil prices in May.

According to final figures of the British statistics bureau, the British economy grew by 0.2% in the first quarter of 2018 compared to the fourth quarter of 2017. Based on an earlier estimate, growth of 0.1% was expected. In the fourth quarter of 2017, the economy grew by 0.4% compared to the previous quarter.

The 6M Euribor is unchanged at -0.27% compared to previous business day. The 10Y Swap is unchanged at 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.