Market Information Tuesday 14 July 2020

Market Information Tuesday 14 July 2020

Production in the Japanese industry contracted by 8.9% in May compared to the previous month. This was reported by the Japanese government on the basis of final figures. As a result, the industry shrank even more than reported on the basis of preliminary figures. Earlier, there was still talk of an 8.4% decline in production. On an annual basis, industrial production decreased by 26.3%. The contraction is partly caused by the fall in demand in the car industry and the earlier closures of factories.

In May, the British economy was recovering slowly from the heavy blows caused earlier by the corona crisis. According to the British bureau of statistics, the economy grew by 1.8% that month compared to April, when it still showed a contraction of more than 20%. However, the growth was not as strong as expected, because economists expected a plus of 5.5% on average.

German inflation was 0.9% year-on-year in June, compared to 0.6% in May. The German Federal Statistical Office reported this in a final figure. On a monthly basis, inflation rose by 0.6%.

The 6M Euribor is unchanged at -0.33% compared to previous business day. The 10Y Swap increased with 4 basis points 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.

Market Information Monday 13 July 2020

Market Information Monday 13 July 2020

A group of oil countries, including Saudi Arabia, are trying to persuade OPEC oil cartel and Russia to increase oil production starting August. The Wall Street Journal reports this on the basis of information provided by insiders. According to the newspaper, the countries would like to increase production based on signs that demand for oil is picking up again as corona measures are relaxed in many countries. The OPEC members will probably talk about this in a video conference next week.

US President Donald Trump says it is unlikely that the fragmented trade deal with China will be extended. Tensions between the United States and China are too tense for that, he told reporters aboard his government plane. “I wasn’t even thinking about it and I have other things on my mind,” Trump answered on the question if new trade agreements are coming up. “The relationship with China has been seriously damaged.”

The production of the Italian and French industry increased substantially in May compared to April. In France, driven mainly by the construction sector, industrial production grew by almost 20%, more than economists on average expected. In Italy, the increase in production was even more than 42 percent compared to expected growth of 24 percent.

The 6M Euribor decreased with 1 basis point to -0.33% 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 Friday 10 July 2020

Market Information Friday 10 July 2020

New figures published by the US Department of Labor on Thursday show that 1.31 million Americans filed for social assistance benefits during the week ending July 4, 2020. That is a small decrease compared to a week earlier, when the number of unemployed increased by 1.41 million. Economists had expected 1.39 million new unemployed in advance.

New figures from Statistics Netherlands show that production in Dutch industry decreased by 12.5 percent in May 2020 compared to May 2019. This is the largest decrease in over 11 years. In April 2020, production decreased by 11.0 percent compared to April 2019. On a monthly basis, industrial production fell by 1.9 percent in May 2020 compared to April 2020.

In France, industrial production increased by 19.6 percent in May 2020 compared to April 2020. This follows from figures published by Statistics France on Friday. In April 2020, monthly production increased by 20.6 percent compared to March 2020. For May 2020, economists had expected an increase of 12.5 percent. On an annual basis, industrial production in May 2020 was still 25.4 percent lower compared to May 2019.

The 6M Euribor decreased with 1 basis point to -0.32% compared to previous business day. The 10Y Swap decreased with 2 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 Thursday 9 July 2020

Market Information Thursday 9 July 2020

German exports increased by 9.0% MoM in May compared to the previous month, according to figures published by the German statistics agency Destatis. After a sharp decrease in March and April, due to the corona crisis, exports are slowly recovering. In April, exports decreased by 24.0% MoM. Imports increased by 3.5% MoM in May compared to -16.6% in April.

According to Statistics Netherlands (CBS), 35.1% of all self-employed workers (1.26 million) declines below the level of financial resources if their income is lost for a full year. This is evident from a simulation based on the income data of self-employed persons for the year 2018. During the current crisis, the risk of self-employed persons losing their assignments has increased drastically.

Next Monday the Dutch state wants to raise EUR 2 to 4 billion with the reopening of two loans. This has been announced by the Agency of the General Treasury of the Ministry of Finance (DSTA). These are short-term loans, until January 28, 2021 and June 29, 2021.

The 6M Euribor is unchanged at -0.31% compared to previous business day. The 10Y Swap decreased with 1 basis point 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 Wednesday 8 July 2020

Market Information Wednesday 8 July 2020

The European economy is expected to enter a deeper recession than the European Commission expected two months ago. According to a new forecast from the European Commission, a contraction of 8.7% is expected in the eurozone. In May, the economy was expected to contract by 7.7%. This difference is mainly caused by the significant downward revision of the figures of the severely affected southern EU Member States. Vice-President Valdis Dombrovskis stated that the economic impact of the lockdown was more severe than initially estimated.

According to figures from Destatis, the German statistical office, German industrial production increased by 7.8% in May compared to the previous month. In April there was an unprecedented contraction of 17.5% which, as a result of corona measures, led to factory closures. On average, economists had expected a stronger recovery of 11.1% on a monthly basis.

Dutch minister of finance Wopke Hoekstra is preparing a bill to oblige auditors to audit the annual financial statements of companies listed on the stock exchange. Auditors are now allowed to refuse them as clients, and this threatens to bring a number of small stock exchange funds into financial trouble, Dutch newspaper Financieele Dagblad reports. Preparations for a bill will start after the summer.

The 6M Euribor is unchanged at -0.31% compared to previous business day. The 10Y Swap is unchanged at -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.