Market Information Wednesday 30 September 2020

Market Information Wednesday 30 September 2020

Economic confidence in the eurozone improved slightly in September compared to a month earlier according to the European Commission. The confidence index increased to a reading of 91.1, compared to 87.5 in August. The increase was higher than economists had anticipated. They had expected a reading of 89. According to the committee, the strongest increase in confidence was seen in the services sector, with a smaller increase for industry and retail.

US consumer confidence in the economy also increased sharply in September, according to market researcher Conference Board. As a result of a positive outlook of the economy and the job market, the index increased to its highest level in seventeen years. The index recorded a level of 101.8 against a revised level of 86.3 in August. Economists had anticipated a score of 90.

Chinese industrial activity grew in September according to figures from the National Statistics Office. The manufacturing purchasing managers index increased to a reading of 51.5, up from 51 in August. The improvements are attributed to an increase in exports as economies around the world gradually reopen.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap decreased with 2 basis points 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 Tuesday 29 September 2020

Market Information Tuesday 29 September 2020

Economic uncertainty about the corona crisis remains high and the virus outbreak will continue to weigh on economic activity in the euro zone. This is what President Christine Lagarde of the European Central Bank (ECB) said in discussions with members of the European Parliament. She indicated that the ECB is ready to take more steps to help the economy recover from the crisis.

Germany will raise additional funds in the last three months of the year with the issuance of government bonds. The country will issue EUR 50.5 billion in bonds and other debt securities next quarter. The extra money can be put to good use by Germany to finance the support measures it is taking in connection with the corona crisis. Incidentally, the amount targeted is significantly lower than in the third quarter. Approximately EUR 146 billion in debt was issued during that period.

Dutch industry entrepreneurs were less negative for the fifth consecutive month in September. According to Statistics Netherlands (CBS), opinions on the order book improved and entrepreneurs were also more positive about their stocks of finished products. They were, however, more pessimistic about expected activity. Producer confidence went from minus 5.4 in August to minus 4.8 in September. The average for the past twenty years is 0.4.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 1 basis point 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 Monday 28 September 2020

Market Information Monday 28 September 2020

World trade grew by 4.8 percent in July compared to the previous month. This means that the recovery has slowed down compared to June, when trade rose by 7.9 percent on a monthly basis. In the eurozone, exports increased by 5.9 percent and imports by 4.1 percent. In the United States the recovery was much stronger, with an increase of 11 percent for both exports and imports.

A majority of Dutch investors expects a sharp decline of the stock markets due to a second corona wave. However, a slight majority thinks that this decline will be less severe than the decline after the first wave of the corona virus. ING reports this on the basis of a poll among investors. Despite concerns about a second corona virus wave, ING’s monthly Investor Barometer rose by four points to 102. It is the first time that the indicator was reported above 100 since April.

Durable goods orders in the United States increased 0.4 percent in August from a month earlier, based on preliminary figures from the US Department of Commerce. Economists generally assumed an increase of 1.4 percent.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap decreased with 2 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 Friday 25 September 2020

Market Information Friday 25 September 2020

The composite index for the business climate for industry and trade in Germany increased to 93.4 in September 2020, from 92.6 in August 2020, according to figures published by the German research institute Ifo on Thursday. Economists had anticipated an index of 93.5. The sub-index for current conditions increased from 89.0 in August 2020 to 89.2 in September 2020, while the sub-index reflecting the expectations decreased from 98.0 to 97.7 in the same period.

Figures published by the US Department of Labor show that 870,000 Americans filed for social assistance benefits in the week ending September 19, 2020. This is a slight increase compared to the week before, when 866,000 applications were submitted. Economists had expected 850,000 new unemployed in advance.

In addition, the U.S. Department of Commerce reported that the number of single-family homes sold in the United States increased by 4.8 percent in August 2020 from July 2020, to 1.01 million homes. Compared to August 2019, new home sales increased by 43.2 percent in August 2020.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap is unchanged at -0.22% 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 September 2020

Market Information Thursday 24 September 2020

The Dutch current account surplus decreased to its lowest level in four years. According to the Dutch Central Bank (DNB), the surplus decreased by 7.0% year-on-year in the second quarter of 2020, to an amount of EUR 12.9 billion. This equates to 6.6% of the gross domestic product (GDP). In 2018, the Netherlands achieved a record current account surplus of EUR 84 billion.

The International Labor Organization (ILO) publishes in a report that almost 500 million jobs worldwide were lost in the second quarter of 2020 as a result of the crisis, compared to the fourth quarter of 2019. This is a bigger loss than previously assumed. The situation in the second half of the year will be better than in the first half of 2020. The forecast is, in an average scenario, that there will be a loss of 245 million jobs in the fourth quarter. In the bleakest scenario, this will be 500 million jobs.

In September 2020, activity of the American manufacturing industry increased slightly more than a month earlier. Markit’s industry purchasing managers index in the United States was 53.5 this month, compared to 53.1 in August. A level of 50 or more indicates growth.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.22% 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 23 September 2020

Market Information Wednesday 23 September 2020

Consumer confidence in the eurozone improved slightly in September 2020 compared to August 2020. This follows from preliminary figures published by the European Commission on Tuesday. The index representing confidence increased to negative 13.9 in September 2020 from negative 14.7 in August 2020. In July 2020, the index level was negative 15.0.

A second estimate by Statistics Netherlands (CBS) shows that the gross domestic product (GDP) in the Netherlands decreased by 8.5 percent in the second quarter of 2020 compared to the first quarter of 2020. On an annual basis, the GDP decreased by 9.4 percent. In the first estimate, the CBS reported a decrease of 9.3 percent on an annual basis.

The purchasing managers index in Japan decreased to 45.2 in September 2020, from 45.8 in August 2020. This follows from preliminary figures published by Markit Economics and Jibun Bank on Wednesday. At the start of the corona crisis, the index was still at 21.5. An index position above 50 indicates growth, while a position less than 50 indicates shrinkage.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 1 basis point 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 22 September 2020

Market Information Tuesday 22 September 2020

In the Netherlands, the prices of existing owner-occupied homes were 8.2% higher in August than in the same month a year earlier. Research by Statistics Netherlands (CBS) and the Land Registry (Kadaster) shows that this is the largest price increase in more than 1.5 years. According to Statistics Netherlands, the average house price is now about 51% higher than during the downturn in 2013. The number of transactions did fall, however.

Dutch consumer sentiment hardly changed in September, according to CBS. Consumer confidence stood at minus 28, compared to minus 29 a month earlier. At minus 28, consumer confidence in September was far below the average over the past twenty years, which stands at minus 6.

Dutch consumers spending was down 6.2% less in July compared to the same month a year earlier. This is reported by the CBS. The decline is lower than in the previous four months. Consumers once again spent less on services and more on goods. For example, almost 15% less was spent on services and almost 10% more on durable goods.

The 6M Euribor decreased with 1 basis point to -0.47% compared to previous business day. The 10Y Swap decreased with 2 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 Monday 21 September 2020

Market Information Monday 21 September 2020

Within the European Central Bank (ECB) policymakers dividend policy of banks is being discussed. According to insiders, some of the central bank’s policymakers believe that an extension of the dividend ban does more harm than good to banks. However, there is still a group of policymakers which opposes resuming dividend payments. Based upon figures on the economy in the coming months, the ECB will in the fourth quarter decide on the dividend freeze at banks.

US consumer confidence in the economy increased further in September. The University of Michigan announced a consumer confidence level of 78.9. Economists generally expected that the indicator would be 75. Consumer confidence reached 74.1 in August.

The Dutch state wants to raise between 4 billion and 6 billion euros with a new long-term government bond. The Agency of the General Treasury of the Ministry of Finance (DSTA) announced on Friday that the auction will take place today. The coupon on the government bond with a maturity of January 15, 2052 is 0 percent.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.22% 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 September 2020

Market Information Friday 18 September 2020

Consumer prices in the eurozone decreased by 0.2 percent in August 2020 compared to August 2019. On a monthly basis, prices decreased by 0.4 percent in August 2020 compared to July 2020, according to figures published by Eurostat on Thursday.

The European Central Bank (ECB) has decided on Thursday to loosen capital requirements for banks due to the corona crisis. Large banks in the eurozone no longer need to include certain assets they deposit with the ECB to determine their unweighted capital buffer. As a result, the average leverage ratio of these banks would increase by approximately 0.3 percentage point from the current average of 5.36 percent.

In Germany, producer prices decreased by 1.2 percent in August 2020 compared to August 2019. On a monthly basis, the price level remained the same. This follows from figures published by Destatis, the German statistical office, on Friday. In July 2020, producer prices decreased by 1.7 percent compared to June 2019. From June 2020, there was a slight increase in prices of 0.2 percent in July 2020.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap decreased with 1 basis point 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 Thursday 17 September 2020

Market Information Thursday 17 September 2020

Unemployment in the Netherlands increased further in August 2020. According to figures of Statistics Netherlands (CBS), 426,000 people were unemployed last month, which is equivalent to 4.6% of the labor force. In July 2020 this was still 4.5%.

The Dutch state is expected to borrow less this year than previously forecast. Because the contraction of the Dutch economy is lower in the new estimates, the predicted deficit for the government will also be lower. In addition, the support measures against the corona crisis have a lower impact on the budget than previously thought. According to the General Treasury Agency of the Ministry of Finance (DSTA), the Netherlands will issue a total of EUR 110.7 billion this year on the money and capital markets, compared to EUR 138.8 billion expected at the end of June.

The European Commission has not approved the Dutch plans to subsidize environmentally friendly hydrogen production. Eric Wiebes, Minister of Economic Affairs and Climate, announced this to the Lower House on Monday. This marks the end of the government’s plans to use hydrogen to reduce greenhouse gas emissions. For heavy industry, hydrogen can serve as a replacement for oil, natural gas and coal. However, the European Commission states that a lot of sustainable electricity is needed to make hydrogen green. In the Netherlands a lot of electricity is still generated by natural gas and coal, and the production of hydrogen will only increase CO2 emissions.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.22% 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 September 2020

Market Information Wednesday 16 September 2020

Industrial production in China increased more than expected in August. According to China’s National Statistics Office, production increased with 5.6 % year-on-year compared to 4.8 % a month earlier. Economists had anticipated an increase of 5.1 %. Retail sales were up 0.5 % year-on-year, from a decline of 1.1 % a month earlier. The retail sector has been severely affected by the lockdown and sales were expected to remain the same.

German investors’ confidence in the future unexpectedly increased in September, according to the ZEW index released yesterday. Economists expected the index to decrease to a reading of 69.5 but the index increased to 77.4 from 71.5 a month earlier. The index that measures confidence in the current situation was still negative at 66.2 from minus 81.3 in August. According to the research institute, expectations for the Eurozone economy also improved in August, increasing to a reading of 73.9 from 64 in August.

According to the Federal Reserve, industrial production in the United States increased with 0.4 % in August from an adjusted 3.5 % a month earlier. Economists had anticipated an increase of 1 % on a monthly basis. The occupancy rate in the United States was reported at 71.4 % in August from a revised 71.1 % in July.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap is unchanged at -0.21% 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 September 2020

Market Information Tuesday 15 September 2020

According to a monthly report from the Organization of Petroleum Exporting Countries (OPEC), global demand for oil is dropping more than previously predicted. In addition, due to the corona pandemic, next year’s demand is recovering less quickly than expected. Oil demand is expected to fall by 9.46 million barrels a day this year, while OPEC predicted a fall of 9.06 million barrels a day a month ago. The use of oil in 2021 is expected to increase by 6.62 million barrels per day, 370,000 barrels less per day than previously expected.

More flexible EU rules for take-off and landing rights will probably apply for airlines throughout the winter. As a result, they will not lose their so-called slots because of insufficient usage due to the corona crisis. The European Commission has already accepted the flexible rules since last March and accepts an extension until March 27, 2021.

After the increase in May and June, production in the eurozone industry continued to increase in July. Further easing of lockdown measures boosted the industry. According to European statistics office Eurostat, production increased by 4.1% compared to June. However, production was still significantly lower than in July 2019, down 7.7% year-on-year.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap is unchanged at -0.21% 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 September 2020

Market Information Monday 14 September 2020

Inflation in the United States rose to 1.3 percent on an annual basis in August, compared to 1 percent in July, as announced by the US government. The rise in the average price level was slightly stronger than economists expected. They expected on average an inflation rate of 1.2 percent.

Due to the corona crisis, Dutch exports still contract, according to the Statistics Netherlands (CBS). Exports fell by 0.6 percent on an annual basis in July. However, exports have shown some recovery in comparison to the previous months.

Iraq is lowering selling prices for its crude oil to customers in Asia and the United States, following price cuts by Saudi Arabia and other producers in the Gulf region. The oil deliveries are scheduled for October. The price cuts by the oil-producing countries may indicate that oil demand is recovering less than expected from the effects of the corona crisis.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap decreased with 4 basis points to -0.21% 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 September 2020

Market Information Friday 11 September 2020

The European Central Bank (ECB) decided on Thursday to maintain the current monetary policy. The ECB chose to leave interest rates unchanged and not to expand its buy-back programs any further. The decision of the ECB is in line with analysts’ expectations.

Producer prices in the United States increased by 0.3 percent in August 2020 compared to July 2020. This follows from new figures published by the US Department of Labor on Thursday. In July 2020, prices increased by 0.6 percent compared to June 2020. For August 2020, economists had expected an increase of 0.2 percent on a monthly basis. On an annual basis, there was a 0.2 percent decrease in producer prices in August 2020 compared to August 2019.

Consumer prices in Germany decreased by 0.1 percent in August 2020 compared to July 2020. This follows from final figures published by the German statistics agency Destatis on Friday. On an annual basis, prices remained unchanged in August 2020 compared to August 2019.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.17% 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 September 2020

Market Information Thursday 10 September 2020

The number of companies declared bankrupt decreased further in August 2020 in the Netherlands. 32 fewer companies were declared bankrupt than in July 2020. This is the lowest figure in 21 years, based on figures from Statistics Netherlands (CBS). A major side note that should be made here, is the fact that the current corona crisis does not immediately cause a bankruptcy peak. Because many companies are weathering the crisis with financial support provided by the Dutch State.

Dutch economists surveyed by economist magazine ESB are of the opinion that the government still has a lot of room to stimulate the economy. Nine out of ten economists do not foresee a problem if government debt increases to 90.0% of the gross domestic product (GDP). The current debt equals around 63.0%. Two in three even think that 120.0% is a sustainable level.

The European Central Bank (ECB) is exerting more pressure on major international banks. This is to ensure that their activities in the European Union can operate profitably and operationally independently after the transitional period of Brexit, addressed in the British business newspaper Financial Times. This transition period will expire at the end of this year. According to the ECB, much remains to be done such as moving assets and staff from London to operations in the eurozone.

The 6M Euribor is unchanged at -0.46% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.19% 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 September 2020

Market Information Wednesday 9 September 2020

The economic contraction in the eurozone in the second quarter is slightly less than previously estimated according to definitive figures reported by the European statistical office Eurostat. The contraction was 11.8 %, compared to the first quarter, from a previously reported 12.8 %. For the entire European Union, the contraction was 11.4 % against an earlier estimated 11.7 %. Eurostat also announced that employment in the eurozone fell by a revised 2.9 % quarter on quarter in the second quarter. In the entire European Union, the contraction was 2.7 %.

Statistics Netherlands (CBS) reports that industrial production in the Netherlands was 5.8 % lower in July 2020 compared to July 2019. The decrease is smaller than in the previous three months. Of the eight largest sectors in the industry, production in the machinery repair and installation sector contracted the most. The food sector shrank the least and the chemical industry production even grew for the first time in more than a year. In addition, Statistics Netherlands reports that the confidence of industrial producers improved for the fourth month in a row.

Chinese producer prices fell again in August. According to the statistics office, prices of Chinese manufacturers fell 2 % year-on-year from a 2.4 % drop in July. This is mainly due to lower prices in the oil and energy sector. Economists had expected a slightly smaller decrease of 1.9 % and expect the weak price climate to continue for the time being.

The 6M Euribor decreased with 1 basis point to -0.46% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.22% 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 September 2020

Market Information Tuesday 8 September 2020

The British pound has dropped in value significantly following statements by British Prime Minister Boris Johnson about the still existing option of a no-deal Brexit. The British Prime Minister stated that the UK is willing to stop trade talks with the EU if necessary. The pound depreciated by nearly 1% against the dollar on Monday afternoon. This is the largest decline in the pound since June this year. Experts believe that the pound could lose a lot of value in the coming period.

The Japanese economy contracted more in the second quarter of this year than predicted. This according to the published figures of the Japanese government. The impact of the corona crisis shows that the upcoming Japanese head of government faces a major challenge to prevent a deeper recession. Japan’s gross domestic product fell by 28.1% instead of the 27.8% taken into account.

Saudi Arabia is lowering its prices for crude oil deliveries to Asia and the United States. Oil prices dropped again on Monday, after the drop on Friday. Deliveries are scheduled for October. It is the first time in six months that Saudi Arabia is lowering its selling prices for the US. The Saudi move may indicate that oil demand is recovering less from the effects of the corona crisis than previously expected. The price of a barrel of American oil recorded a decrease of 1.4% at USD 39.23 on Monday afternoon.

The 6M Euribor increased with 1 basis point to -0.45% compared to previous business day. The 10Y Swap is unchanged at -0.19% 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 September 2020

Market Information Monday 7 September 2020

Employment in the United States has shown further recovery in the past month, after new jobs were created in June and July. Excluding the agricultural sector, the number of jobs grew by 1.37 million, according to the United States Department of Labour. Unemployment in the United States fell to 8.4 percent.

Factory orders in Germany increased again in July, but at a lower rate than expected. According to the German national statistics office, orders were 2.8 percent higher. Economists generally assumed an increase of 5 percent.

The Turkish lira declined sharply again on Friday due to the financial turmoil in Turkey. High inflation, food and transport become more expensive for citizens, and the economic concerns caused by the corona pandemic, contributed to the decline. The ongoing territorial dispute between Turkey and neighbouring Greece also added to the pressure on the currency.

The 6M Euribor decreased with 1 basis point to -0.46% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.19% 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 September 2020

Market Information Friday 4 September 2020

The purchasing managers index that measures activity in Europe’s services sector decreased to 50.5 in August 2020, from 54.7 in July 2020. Economists had expected an index of 50.1. An index greater than 50 indicates growth, while less than 50 indicates contraction.

Figures reported by Eurostat showed on Thursday that retail sales in the eurozone decreased by 1.3 percent in July 2020 compared to June 2020. Economists had expected an increase of 1.2 percent. In May 2020 and June 2020, retail sales increased by 20.6 percent and 5.3 percent respectively on a monthly basis. On an annual basis, retail sales were up 0.4 percent in July 2020 from July 2019.

German factory orders increased by 2.8 percent in July 2020 compared to June 2020. This follows from figures published by statistics agency Destatis on Friday. Economists had expected an increase of 5.0 percent. On an annual basis, factory orders decreased 7.3 percent in July 2020 compared to July 2019.

The 6M Euribor decreased with 1 basis point to -0.45% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.22% 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 September 2020

Market Information Thursday 3 September 2020

Figures reported by Eurostat show that producer prices in the eurozone increased by 0.6 percent in July 2020 compared to June 2020. In June 2020, prices also increased by 0.7 percent from May 2020. On an annual basis, there was a 3.3 percent decrease in producer prices in July 2020 compared to July 2019. In June 2020, the decrease was 3.7 percent compared to June 2019.

US factory orders increased by 6.4 percent in July 2020 compared to June 2020, according to figures from the US government on Thursday. Economists had anticipated an increase of 6.2 percent. In June 2020, the revised increase compared to May 2020 was 6.4 percent as well.

The purchasing managers index, which indicates activity in the Japanese services sector, decreased slightly in August 2020 to a level of 45.0, from 45.4 in July 2020. This follows from figures published by Markit Economics and Jibun Bank. The Japanese industry has contracted less sharply in August 2020 with an index of 47.2 compared to 45.2 in July 2020.

The 6M Euribor increased with 1 basis point to -0.44% compared to previous business day. The 10Y Swap decreased with 4 basis points to -0.20% 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 September 2020

Market Information Wednesday 2 September 2020

Consumer prices in the eurozone decreased in August compared to a year earlier according to the European statistical office Eurostat. Inflation in the euro area is negative for the first time since 2016 with a level of -0.2 %. The negative inflation in the eurozone was unexpected, economists had anticipated an increase of 0.2 %. The core inflation, corrected for the strongly fluctuating prices for energy and food and beverages, amounted to 0.4 percent compared to 1.2 percent in July.

In addition, Eurostat reports that unemployment in the eurozone continued to rise in July. According to the statistics office, the unemployment rate was 7.9 % from an adjusted 7.7 % in June. Economists had expected an increase of 8 %. For the entire European Union, the unemployment rate was 7.2 % against 7.1 % in June.

Market researcher ISM reports that industry activity in the United States increased in August compared to a month earlier. The purchasing managers index (PMI) recorded a reading of 56 for August, against 54.2 in July. A level of 50 or more indicates growth. Economists had anticipated a reading of 54.8.

The 6M Euribor decreased with 1 basis point to -0.45% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.16% 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 September 2020

Market Information Tuesday 1 September 2020

The Indian economy showed a historic contraction of 23.9% in the second quarter of 2020 compared to the previous year. The economy has been hit hard by the coronavirus outbreak and the extensive lockdown measures. It is the strongest contraction since the beginning of the quarterly measurements in 1996, according to the Indian government. The contraction is significantly higher than expected, as economists were expecting a contraction of 18%.

Business activity in the Chinese industry grew again in August, to its highest level since the beginning of 2011. According to figures from research firms Markit and Caixin. The purchasing managers index, which reflects activity, stood at 53.1 last month compared to 52.8 a month earlier. Economists expected a level of 52.5. Experts point out that overseas demand is driving the industry’s recovery.

Inflation in Germany reached 0.0% on a yearly basis in August, according to the preliminary figures reported by the German Federal Statistical Office. Economists expected an average inflation rate of 0.1%. On a monthly basis, inflation was -0.1%.

The 6M Euribor is unchanged at -0.44% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.15% 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.