Market Information Monday 11 January 2021

Market Information Monday 11 January 2021

The planned increase in British taxes is reportedly being postponed. According to the British newspaper The Times, the increases are not expected before next summer, as British Chancellor of the Exchequer Rishi Sunak fears the economic consequences of the corona pandemic.

Employment in the United States unexpectedly declined in December. According to the US Department of Labor, this is the first job decline since last spring’s major corona blow. In total, excluding agriculture, 140,000 jobs were lost, while economists expected about 50,000 extra jobs. In addition, business newspaper The Wall Street Journal reported that last year job losses in the United States were at their highest levels since 1939.

President-elect Joe Biden wants to allocate trillions of dollars for additional support to help guide the US economy through the corona crisis. According to Biden, the disappointing US job market shows the need for further aid measures for households in the United States. Biden believes that more immediate household support is needed soon, including a $ 2,000 support check.

The 6M Euribor increased with 1 basis point to -0.52% 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 Friday 8 January 2021

Market Information Friday 8 January 2021

Eurozone retail sales decreased by 6.1 percent, measured by volume, in November 2020 compared to October 2020. In October 2020 retail sales increased with 1.4 percent compared to September 2020. This follows from figures published by the European statistics agency Eurostat on Thursday. On an annual basis, sales decreased by 2.9 percent in November 2020.

The purchasing managers index for the services sector in the United States unexpectedly increased in December 2020 to 57.2, from 55.9 in November 2020. This was shown Thursday by figures from the Institute for Supply Management. Analysts had expected a decrease to 54.5.

Figures from statistics Netherlands on Friday show that the production in the Dutch industry decreased by 2.5 percent in November 2020 compared to November 2019. In October 2020 and September 2020, production also decreased by 3.6 percent and 6.6 percent respectively. On a monthly basis, production decreased by 0.2 percent in November 2020 compared to October 2020.

The 6M Euribor decreased with 1 basis point to -0.53% 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 Thursday 7 January 2021

Market Information Thursday 7 January 2021

Employees covered by a collective labor agreement (CLA) have seen their wages increase the most in twelve years in 2020, based on figures from Statistics Netherlands (CBS). This is not consistent with corona crisis, however, agreements on wage increases had already been concluded for almost three-quarters of all collective labor agreements as per the beginning of 2020 (prior to the outbreak). For the three CLA sectors, wages in the government increased most, at 3.2%. Wages increased the least at 2.7% at subsidized institutions.

The European Commission will invest EUR 178 million in shares and grants to 42 European start-ups. It is the first time that the day-to-day EU management takes stakes in commercial enterprises. This concerns an investment between EUR 500,000 and EUR 15 million per company. With the investment program, Brussels wants to help young European technology companies develop faster and attract traditional investors.

Industries such as retail, hospitality, aviation and tourism are severely affected by strict corona measures in many European countries. According to British market researcher Markit, activity in the eurozone services sector declined more sharply in December than expected. The services sector in the eurozone thus shrank for four months in a row. The purchasing managers index for the euro countries was 46.4.

The 6M Euribor increased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap increased 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 Wednesday 6 January 2021

Market Information Wednesday 6 January 2021

The number of unemployed in Germany turned out lower than expected in December. On a monthly basis unemployed decreased with 37,000 to almost 2.8 million. Economists had anticipated a slight increase in the number of unemployed. The German unemployment rate remained stable in December at 6.1 % of the labor force.

The world economy could grow by 4 % in 2021, after a contraction of 4.3 % in 2020 according to the World Bank. The institute emphasizes the risks of further rising of corona infections and delays in the roll-out of vaccines. In that scenario, the growth of the global economy would be limited to 1.6 % this year. In the scenario that the pandemic is under control quickly, growth could reach nearly 5 %, the World Bank reports.

Saudi Arabia will voluntarily cut its oil production by 1 million barrels per day in February and March to support the oil market during the corona crisis. Allies Russia and Kazakhstan are allowed to increase their production. The agreement provides Russia the desired extra oil production and Saudi Arabia the intended price stability. The deal was reached after two days of negotiations and caused oil prices to rise on Tuesday. The production of other OPEC + countries remains virtually unchanged.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 2 basis points 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 5 January 2021

Market Information Tuesday 5 January 2021

The United States has intensified its sanctions against companies and investors involved in the construction of the Nord Stream 2 gas pipeline, which runs from Russia to Germany. The US opposes the pipeline as it would give Russia more influence in Western Europe, according to the US. The US sanctions include fines for companies providing technical certificates and insurance for the gas pipeline.

Iraq increased its oil production in December. The country, which is a leading member of oil cartel OPEC, may have violated agreements on production restrictions to support prices together with other OPEC countries such as Saudi Arabia and allies including Russia (OPEC+). According to tanker data and port reports analyzed by press bureau Bloomberg, Iraq would have produced 4% more oil last month. This indicates that Iraq has failed to comply with agreements on production restrictions.

Industrial activity in the euro area reached its highest level in December since May 2018, showing further recovery from the corona crisis. This was reported by UK market researcher Markit on the basis of its purchasing managers index reflecting activity. According to Markit, the indicator came out at a final level of 55.2, compated to 53.8 in November.

The 6M Euribor decreased with 1 basis point to -0.53% compared to previous business day. The 10Y Swap decreased with 3 basis points 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.