Market Information Thursday 31 December 2020

Market Information Thursday 31 December 2020

The British House of Commons gave its approval, by a large majority, to the trade agreement concluded last week between the United Kingdom and the European Union. The agreement was adopted by 521 votes to 73. The trade agreement was subsequently approved by the House of Lords, which was followed by Queen Elizabeth’s approval.

European logistics companies will, where possible, temporarily avoid taking on orders to transport goods into the UK, as a consequence of the potential problems arising at borders as a result of the brexit. This is shown by the data from the German software company Transporeon. This company keeps track of the real-time data of more than 100,000 logistics service providers. Apparently, there has been a substantial decrease in the number of forwarders taking cargoes to the United Kingdom.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.26% 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 30 December 2020

Market Information Wednesday 30 December 2020

The US House of Representatives has agreed to President Donald Trump’s demand for more valuable support checks. The $ 900 billion corona stimulus package was approved in Congress last week. Trump initially refused to sign the deal but eventually gave in to political pressure. The president did demand that both the House of Representatives and the Senate still vote on his proposal to increase the value of the support checks. Now that the Democrat-dominated House of Representatives has passed, the bill has moved to the Senate for judgment.

After seven years of negotiations, the European Union and China are likely to sign an investment treaty this year. Last week, China was still reluctant, but a government spokesman on Tuesday expressed the hope of a quick signing. During a meeting on Monday, EU representatives asked the European Commission to finalize the deal this year. The agreement is intended to ensure access to the Chinese market and a level playing field, but negotiations have also taken place to ban forced labor and protect the climate.

The selling prices of the Dutch manufacturing industry were on average 4.5 % lower in November than in November 2019, according to Statistics Netherlands (CBS). The lower prices are to a large extent related to the lower crude oil prices. In October, products in the manufacturing industry were 4.9 % lower than a year earlier. On a monthly basis, an increase of prices was reported.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.26% compared to previous business day.

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

Market Information Tuesday 29 December 2020

Market Information Tuesday 29 December 2020

In 2020 corporate debt issued amounted to more than USD 5,000 billion, a record. Underwriting investment banks have generated a total of USD 124.5 billion in fees for the debt issuance.

Gross domestic product (GDP) in the Netherlands decreased by 4.1% in the first three quarters of 2020 compared to the first three quarters of 2019. The contraction was mainly caused by the sharp decline in household consumption (6.4%), as a result of the restrictions on consumption by government measures. The decline in investment (3.5%) also contributed to the contraction in GDP, according to the annual overview of 2020 published by Statistics Netherlands.

The British pound decreased on Monday after three days in which the currency increased due to the trade deal between the European Union (EU) and the United Kingdom (UK). Investors expect the trade deal to have negative consequences for the UK, according to Bloomberg.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.25% compared to previous business day.

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

Market Information Monday 28 December 2020

Market Information Monday 28 December 2020

Dutch industrial entrepreneurs sentiment was again less negative in December, according to Statistics Netherlands. Especially the opinion about the expected activity showed improvement. Producer confidence increased from minus 3.8 to minus 0.4 in the last month of the year, the highest level after March 2020, when confidence was hit hard by the corona crisis.

China is expected to overtake the United States sooner as the world’s largest economy due to the aftermath of the corona crisis. The country is recovering from the pandemic much better than the US, according to researchers from the Center for Economics and Business Research. China will now be the world’s largest economy in 2028, which is five years earlier than previously expected.

The trade agreement between the UK and the European Union will “have a profound impact on people, businesses and public administrations”. David McAllister, the chairman of the special Brexit committee in the European Parliament, said this to the German newspaper Die Welt. “Trade between the EU and the UK will not run as smoothly as it was when we were both part of the internal market and the customs union,” he said.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.24% 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 24 December 2020

Market Information Thursday 24 December 2020

Sales of existing homes in the United States decreased in November compared to a month earlier. This was reported by the American trade association of brokers. On a monthly basis, sales decreased with 2.5%. In October an increase in the number of sales was reported.

Prices of existing owner-occupied homes in the Netherlands were 8.9% higher in November, compared to November 2019. In November 2020, the price index of existing owner-occupied homes was at its highest level ever, according to research into the price development of existing private owner-occupied homes in the Netherlands by Statistics Netherlands and the land register. Additionally, 18,449 housing transactions were registered in November 2020.

US President Donald Trump has refused to sign the corona support package approved by the US Congress on Monday. The USD 900 billion package was approved after months of discussions. According to the president, millions of dollars would go unnecessarily through the support package to other countries and art and cultural institutions, which he believes are not a priority.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.24% 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 Wednesdayday 23 December 2020

Market Information Wednesdayday 23 December 2020

German consumer confidence for the coming month has decreased, as announced by market researcher GfK. The index records a level of minus 7.3 compared to minus 6.8 for December. Economists had already anticipated a further decline and estimated a level of minus 7.6.

The US government reports that the US economy growth was even stronger in the third quarter than previously assumed. The economic growth was 33.4 % compared to a previously estimated plus of 33.1 %. It is the strongest quarterly growth ever recorded in the US.

US consumer confidence in the economy declined in December compared to a month earlier according to the announcement of market researcher Conference Board. The indicator recorded a level of 88.7 in December against a revised level of 92.9 in November. Economists had anticipated a reading of 97.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.27% compared to previous business day.

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

Market Information Tuesday 22 December 2020

Market Information Tuesday 22 December 2020

The European Medicines Agency (EMA) has officially approved the corona vaccine that Pfizer has developed together with Biontech. In a press conference Monday afternoon, the EU agency declares that the vaccine is safe and offers sufficient protection against the corona virus. The EMA speaks of a major step forward in the fight against the corona virus. The approval is the starting signal for many countries in the European Union to start vaccinating. Germany, Italy and France expect to start on Sunday.

The UK government deficit increased to a record of GBP 241 billion (app. EUR 265 billion) in the first eight months of the fiscal year. The UK spent billions on helping businesses and households get through the crisis. In November 2020, the UK government spent nearly GBP 32 billion more than it received through taxes.

Consumer confidence in the eurozone increased in December 2020, despite the further rising corona infections and the tightened measures to contain the virus in many European countries. The index the European Commission uses to measure confidence increased by 3.7 points to a level of minus 13.9 points. This means that the indicator is still below the long-term average.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.26% compared to previous business day.

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

Market Information Monday 21 December 2020

Market Information Monday 21 December 2020

The World Trade Organization (WTO) announced that global trade in goods increased 11.6 percent quarter on quarter in the third quarter. In the second quarter a decline of 12.7 percent was reported. The trade volume has not yet fully recovered from corona in the third quarter, compared to last year trade volume decreased with 5.6 percent.

The outlook for the US economy improved further in November, as reported by research firm Conference Board based on its index of leading indicators. The indicator increased by 0.6 percent compared to October. A month earlier, the indicator increased by 0.7 percent.

Confidence of German entrepreneurs has unexpectedly increased this month. In particular the expectations for economic recovery in 2021 contributed to the increase, according to German research institute Ifo. Ifo’s confidence index reached 92.1 for December compared to an updated 90.9 in November. On average, economists had expected a further decrease, after the indicator had already fallen in the past two months.

The 6M Euribor increased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.26% compared to previous business day.

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

Market Information Friday 18 December 2020

Market Information Friday 18 December 2020

Figures from the US Department of Labor show that 885,000 Americans filed for social assistance benefits in the week ending December 17, 2020. This is an increase compared to the week before, when 862,000 applications were submitted. Economists had expected 808,000 new unemployed in advance.

Final figures published by statistics agency Eurostat on Thursday show that consumer prices in the eurozone decreased by 0.3 percent in November 2020 compared to November 2019. On a monthly basis, prices decreased with 0.3 percent in November 2020. Core inflation, usually an important indicator for the ECB, was 0.2 percent in November 2020 compared to November 2019. The figures are in line with the previous estimate.

Producer prices in Germany decreased by 0.5 percent in November 2020 compared to November 2019. On a monthly basis, prices increased by 0.2 percent in November 2020 compared to October 2020. This follows from figures published by Destatis, the German statistical office, on Friday. In October 2020, producer prices decreased by 0.7 percent on an annual basis.

The 6M Euribor decreased with 1 basis point to -0.53% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.27% compared to previous business day.

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

Market Information Thursday 17 December 2020

Market Information Thursday 17 December 2020

The United Kingdom has entered into a customs union agreement with the United States. This agreement, which contains agreements on customs formalities, makes it possible for the two parties to continue to trade freely with each other. Jesse Norman, the British Minister of Finance, sees the deal as an important agreement that ensures continuity after Brexit.

Construction production in the eurozone increased in October 2020 compared to September, when there was still a contraction. Based on figures from the European statistical office Eurostat, production increased by 0.5%. In September, production decreased 2.7%. The growth is due to increased construction of houses and buildings. Infrastructure production decreased. On an annual basis, the construction production was 1.4% lower in October.

The Federal Reserve (Fed) has not changed US interest rates. The Fed previously indicated that interest rates will remain close to 0 at least through 2023. The bond buy-back programme and bundled mortgage debt was also not affected. The main US interest rate amounts between 0.00 and 0.25%.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.26% 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 16 December 2020

Market Information Wednesday 16 December 2020

The National Statistics Office of China reports that industrial production increased with 7% in November compared to November 2019. The recovery of the Chinese industry continues, after a decline due to the corona pandemic earlier this year. The recovery is driven by strong domestic demand and the production of medical supplies and electrical appliances for export markets.

Import prices in the United States increased by 0.1% in November compared to a month earlier according to figures reported by the US government. Economists had anticipated an increase of 0.3%. US export prices increased with 0.6% on a monthly basis. Economists had expected an increase of 0.2%.

According to the Federal Reserve, industrial production in the United States increased with 0.4% in November from an adjusted 0.9% a month earlier. Economists had anticipated an increase of 0.3% on a monthly basis. The occupancy rate in the United States was reported at 73.3% in November from a revised 73% in October.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.29% compared to previous business day.

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

Market Information Tuesday 15 December 2020

Market Information Tuesday 15 December 2020

The Organization for Economic Co-operation and Development (OECD) stated that the economy of G20 countries grew strongly in the third quarter of 2020, after the sharp contraction in the first two quarters of 2020. The economic growth of the G20 region in the third quarter amounted to 8.1% on a quarterly basis. The strongest growth was observed in India. However, the economies of the G20 countries have not yet fully recovered compared to to the start of the corona crisis.

On Monday after it was announced that the European Union and the United Kingdom will continue to negotiate an agreement for future trade relations. The new deadline for reaching an agreement has been moved to December 31. The major discussion points are rules on fair trade and fishing rights. The European stock markets mainly displayed red figures on Monday close of business after the news about the upcoming lockdowns in Germany and the Netherlands.

Eurostat has reported that Eurozone industrial production increased by 2.1% in October 2020 compared to the previous month. On an annual basis, however, production is still 3.8% lower, as a result of the corona crisis. For the EU as a whole, industrial production growth was 1.9% on a monthly basis in October.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.30% compared to previous business day.

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

Market Information Monday 14 December 2020

Market Information Monday 14 December 2020

The export of goods in the Netherlands increased by 4.1 percent in October compared to the same month a year earlier. Statistics Netherlands (CBS) states that more chemical products, agricultural goods and machines and equipment were exported. The export of goods makes up about three quarters of total exports. The volume of imports was 0.3 percent lower in October than a year ago.

US consumer confidence in the economy increased in December, as reported by the University of Michigan based on preliminary figures. The index recorded a level of 81.4 against a provisional figure of 76.9 at the end of last month.

Producer prices in the United States increased by 0.1 percent in November from the previous month, according to figures published by the US Department of Labor. In October, prices increased by 0.3 percent.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.31% compared to previous business day.

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

Market Information Friday 11 December 2020

Market Information Friday 11 December 2020

The European Central Bank (ECB) announced on Thursday that the buy-back program (PEPP) to combat the negative consequences of the corona pandemic will be extended by nine months. The support program will now run at least until March 2022 and will be increased by 500 billion euros to 1850 billion euros. The official interest rates remained unchanged.

American consumer prices increased by 0.2 percent in November 2020 compared to October 2020. Economists had expected an increase of 0.1 percent, according to figures published by the US Department of Labor on Thursday. On an annual basis, consumer prices increased by 1.2 percent in November 2020 compared to November 2019. The monthly core inflation, i.e. adjusted for food and energy prices, also amounted to 0.2 percent in November 2020.

Final figures published by German statistical agency Destatis show that consumer prices in Germany decreased by 0.8 percent in November 2020 compared to October 2020. Compared to November 2019, consumer prices decreased with 0.3 percent. The figures are in line with a previous estimate.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.28% 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 10 December 2020

Market Information Thursday 10 December 2020

Dutch industrial production decreased by 3.7% in October 2020, compared to October 2019. According to Statistics Netherlands (CBS), this is the smallest contraction since May 2020. Average production decreased by 12.0% in May. The machinery industry declined most.

Unemployment in the Organization for Economic Cooperation and Development (OECD) area continued to decrease in October 2020. Unemployment in the 37 countries was 7.1% in October, compared to 7.3% in September. In February, before the outbreak of the virus, the unemployment rate was 5.2%.

Research agency Kantar reports that the number of private investors in the Netherlands increased significantly in 2020. In total, the number of households that invests is 1.75 million, an increase of 17.0% compared to last year. These figures are based on a representative sample of approximately 38,000 households. Financial institutions have already noted that there are substantially more new customers. Many private individuals saw the corona virus as an opportunity to achieve good returns, while savings interest rates are historically low.

The 6M Euribor decreased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.27% 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 9 December 2020

Market Information Wednesday 9 December 2020

The economy of the eurozone showed growth of 12.5 % in the third quarter compared to the previous quarter, as reported by the European statistics agency Eurostat. An earlier estimate of the gross domestic product (GDP) growth of the euro area countries was 12.6 %. On an annual basis, the economy contracted 4.3 %. For the entire European Union, Eurostat reports growth of 11.5 % on a quarterly basis and a contraction of 4.2 % on an annual basis.

Research institute ZEW reports that the confidence of German investors and analysts in the future reached a level of 55 in December against 39 a month earlier. The increase was stronger than expected, economists had anticipated a level of 46. The index that measures confidence in the current situation was again more negative than a month earlier, with a level of minus 66.5 against minus 64.3 in November.

Consumer prices in China fell for the first time since 2009 in November. According to figures from the Chinese statistics office, prices decreased by 0.5 % on an annual basis, mainly under pressure from the lower prices for pork. Chinese producer prices decreased with 1.5 % year-on-year in November.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.27% compared to previous business day.

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

Market Information Tuesday 8 December 2020

Market Information Tuesday 8 December 2020

As a result of the continuing uncertainty caused by the corona crisis, the European Central Bank (ECB) is urging an extension of the bank dividend ban for another six months, as reported by Bloomberg. European banks actually expected to be able to pay out dividends again at the beginning of next year. Last year, the share prices of many European banks declined as a result of the dividend ban.

The production of German industry increased substantially in October. Figures from the German Federal Statistical Office show that the recovery of the sector continued after the increase in September. Production increased by 3.2% compared to September. In September production increased by 2.3%. On an annual basis, industrial production in October 2020 was 3% lower than in October 2019.

Prices of goods and services in the Netherlands were on average 0.8% higher in November than a year earlier. Inflation was lower than in September and October, according to Statistics Netherlands (CBS). In October the inflation rate was still 1.2% and in September 1.1%. In those two months, inflation increased after reaching its lowest level of 0.7% in almost four years in August.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.26% compared to previous business day.

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

Market Information Monday 7 December 2020

Market Information Monday 7 December 2020

Factory orders in the United States increased 1 percent in October from a month earlier, as announced by the US Department of Commerce. Economists expected an average increase of 0.8 percent. Employment in the United States grew at a lower rate in November than a month earlier. Last month, according to the US Department of Labor, 245,000 jobs (excluding agriculture) were added, which is significantly less than expected.

The European Central Bank (ECB) is on the verge of extending its corona-crisis buying program for another year. That decision could be announced next Thursday when the ECB convenes, reports Bloomberg news agency based on insiders. According to Bloomberg sources, policymakers would agree that the massive buy-back program should last at least twelve months longer. This would mean the program would be continued at least until mid-2022.

Credit rating agency Fitch has kept Italy’s rating the same at BBB-, despite the southern European country’s substantially increased debt as a result of the corona crisis. Fitch points to the very diverse economy, including industry, tourism, agriculture and a significant financial sector.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap is unchanged at -0.24% compared to previous business day.

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

Market Information Friday 4 December 2020

Market Information Friday 4 December 2020

Oil cartel OPEC and some allies such as Russia have decided to slightly increase oil production in January. Starting January 2021, an additional 500,000 barrels will be pumped daily, despite the fact that demand for oil is still under pressure. After the oil market collapsed in March, OPEC and Russia (OPEC+) agreed to cut oil production by 9.7 million barrels per day. In recent months, this reduction has gradually been relaxed to a production of 7.7 million barrels per day less than agreed before.

Eurozone services activity decreased sharply in November due to the second wave of corona in Europe. Market researcher Markit reported the decline based on the purchasing managers index that reflects activity in the services sector. Industries such as retail, hospitality and aviation were hit hardest by the second wave. The index for the euro countries came to a final level of 41.7, according to Markit. A level of 50 or more indicates growth, below that a contraction of activity.

The economic activity in the services sector in China increased strongly in November, the Chinese economy showing further signs of recovery from the corona crisis. According to market researchers Caixin and Markit, the purchasing managers index for the Chinese services sector increased to 57.8 in November from 56.8 in October.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.24% 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 3 December 2020

Market Information Thursday 3 December 2020

Unemployment in the eurozone decreased unexpectedly in October. According to the European statistics agency Eurostat, the unemployment rate was 8.4%, compared to 8.5% in September. Unemployment in the eurozone has been increasing since March. October is the first month since the start of the corona crisis in which unemployment declined.

The recovery of the US economy is stagnating as reported by The Federal Reserve in its Beige Book, a report that provides insight into economic activity in the US. The stagnation can partly be explained by the increasing number of infections as it affects the confidence of entrepreneurs for the near future.

In November, USD 76.5 billion in foreign money flowed into emerging markets, according to figures from IIF (Institute of International Finance). It is the largest inflow in years, showing that investors are again feeling more confident to invest in emerging markets. Positive vaccine news and clarity about the results of the US presidential election have contributed to this.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap is unchanged at -0.23% 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 2 December 2020

Market Information Wednesday 2 December 2020

Industrial activity in the eurozone increased in November. British market researcher Markit reports this based on definitive figures. The purchasing managers index for the eurozone industry was 53.8 in November from 54.8 in October.

The European statistics office Eurostat reports negative inflation for the eurozone in November, based on preliminary estimates. Inflation has been negative since August and was -0,3 % in November. Economists had anticipated an inflation rate of -0.2 %. Core inflation, excluding prices for energy and food and beverages, amounted to 0.2 % in November, unchanged from October.

Market researcher ISM reports that industrial activity in the United States increased less in November than a month earlier. The purchasing managers index for the industry was 57.5 against 59.3 in October, the highest level for the indicator since the end of 2018. Economists had expected a level of 58.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.23% compared to previous business day.

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

Market Information Tuesday 1 December 2020

Market Information Tuesday 1 December 2020

The summit of the OPEC oil cartel and some of its partners, such as Russia and the United Arab Emirates, has been postponed for two days. No agreement has yet been made on changes in oil production. This year, the oil countries had put restrictions on oil production in order to help the price of oil after demand fell substantially as a result of the corona crisis. The Emirates intend to impose conditions on further production cuts that are almost impossible to achieve. After all, the Emirates have invested heavily in expanding production capacity and want to make full use of it. In the summer, the country started to produce more oil than was allowed under the quota.

The value of the digital currency Bitcoin reached a new record high on Monday. The currency gained more than 7% in value on Monday, passing the previous highest level reached in December 2017. One Bitcoin is now worth USD 19,577, which is USD 66 more than three years ago. After its peak in 2017, the value of the Bitcoin fell dramatically. By mid-2018, the crypto currency was worth approximately USD 4 000.

Inflation in Germany reached below zero again in November 2020. The German Federal Statistical Office reported that, based on a preliminary figure, inflation is -0.3% on a yearly basis this month. Last month inflation was -0.2%. Based on the European harmonised measurement method, German inflation was -0.7% year-on-year in November 2020.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.25% compared to previous business day.

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

Market Information Monday 30 November 2020

Market Information Monday 30 November 2020

The OPEC countries and allies (OPEC +) are meeting this week to discuss a possible postponement of the planned increase in oil production in January. Initially, the aim was to increase production of nearly 2 million barrels of oil per day. Earlier this year, the countries have cut production significantly to support oil prices that were hit hard by the corona crisis. On Sunday, a small group of oil cartel members discussed informally whether to extend restrictions on oil production. In yesterday’s meeting, most participants indicated that they want to maintain production restrictions during the first quarter of 2021.

Business and consumer confidence in the eurozone economy fell in November according to the European Commission reports based on its confidence index. The indicator fell to a level of 87.6 points. It is the first drop since May, when the partial recovery in economic confidence began. The committee says that a deterioration was seen especially in the services sector, retail trade and among consumers, and to a much lesser extent in industry and construction.

India’s economy, Asia’s third largest, has entered a deep recession due to the coronavirus and the aftermath of the strict lockdown measures earlier this year. In the third quarter, the economy contracted by 7.5 percent year-on-year, after a decline of nearly 24 percent in the second quarter. With two quarters of contraction in a row, there is a technical recession. India is showing the greatest contraction of the world’s major emerging economies.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.26% 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.