Market Information Thursday 2 May 2019

Market Information Thursday 2 May 2019

According to the pension-thermometer of Aon, a service provider in the pension sector, the average coverage ratio of Dutch pension funds has increased from 106% to 107% in April. The policy coverage ratio, the average coverage ratio over the last 12 months, was 108% in April. This is above the legal minimal requirement for the policy coverage ratio of 104.3%. However, according to data of DNB, more than half of the outstanding pension entitlements are held at pension funds with a coverage ratio that is lower than the regulatory minimum.

The Federal Reserve reports, after a two-day meeting, that the key benchmark interest rate remains unchanged. This means that the federal funds rate remains between 2.25% and 2.5%. This decision is in line with earlier announcements of the Fed. However, it is against the will of president Trump, who wanted the Fed to cut interest rates to boost the economy.

The British market research institute Markit reports that the growth of activity in the British industry has decreased in April. In April the purchasing managers index was 53.1, compared to 55.1 in March. A purchasing managers index above 50 implies growth. The slowdown in growth is caused by the uncertainty as a result from the Brexit.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap is unchanged at 0.51% 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 1 May 2019

Market Information Wednesday 1 May 2019

According to the European statistics agency Eurostat, the economy of the euro zone has grown by 0.4% in the first quarter of 2019 compared to 0.2% in the fourth quarter of 2018. Economists expected a growth of 0.3%. The euro area economy has grown by 1.2% on an annual basis.

The German Federal Statistical Office has reported inflation in Germany to have been increased to 2% on an annual basis in April. Economists expected an inflation rate of 1.5%. Inflation was driven by higher energy costs and higher prices for all-inclusive holidays.

Market researcher Conference Board announced that US consumers’ confidence in the economy increased in April. The indicator that reflects consumer confidence recorded a score of 129.2 against a revised score of 124.2 in February. Economists expected a level of 126.8.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap is unchanged at 0.51% 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 30 April 2019

Market Information Tuesday 30 April 2019

The United States Department of Commerce has announced that consumer spending in the United Sates has increased by 0.9% in March 2019 compared to February 2019. Economists expected an increase of 0.7%. Personal income of American consumers increased in March by 0.1%, lower than the expected 0.4%.

The European Commission has stated that confidence in the economy in the eurozone has decreased again in April 2019. The index measuring confidence decreased from a revised value 105.6 in March 2019 to 104.0 in April. Economists expected a value of 105.0.

Statistics Netherlands has announced that output prices for the Dutch industry were 2.5% higher in March 2019 compared to March 2018. The price increase is closely related to the price increase of oil. Compared to February 2019, output prices have increased by 0.7%.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.51% 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 29 April

Market Information Monday 29 April

The Netherlands have once more received the AAA-rating, the highest possible rating from credit rating agency Fitch. The rating agency is still convinced in the creditworthiness of the Netherlands.

The United States Economy has grown more in the first quarter than initially was expected. According to preliminary reports from the US government, the economy has grown with 3.2 percent on a yearly basis. Economists expected a growth of 2.3 percent.

Producer confidence in the Netherlands has grown in April, as reported by Statistics Netherlands (CBS). According to the CBS confidence in the industry has increased from 6.1 in March to 6.7 in April. The average of the last twenty years is 1.

The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.50% compared to previous business day.

The following macro-economic figures will be published in the coming week:
• Inflation Belgium
• Producer price index (PPI) Netherlands
• Interest rate by the Bank of England on Thursday

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

Market Information Friday 26 April 2019

Market Information Friday 26 April 2019

Centraal Planbureau (CPB) stated yesterday that world trade volume has decreased by 1.7% in February with respect to January. The world trade volume increased by 2.1% in January with respect to one month earlier. Worldwide industrial production decreased in February by 0.1%, while the production remained unchanged in January.

The Turkish central bank decided yesterday to maintain the current policy rate of 24%. This is the fifth consequential policy meeting with the decision to retain the current policy rate. The central bank motivated its monetary stance by its determination to keep inflation in line with the targeted path. Inflation in Turkey is 22%, which is 5% higher than the central bank is aiming for. Economists expected the central bank to maintain its policy rate.

The United States Department of Labor announced that the amount of initial jobless claims has increased by 37,000 last week to a total of 230,000. Economists expected 200,000 new requests. A week earlier, the number of initial jobless claims increased to 193,000. In the past five weeks, this number has only increased.

Statistics Netherlands (CBS), reported that the total capacity of solar panels deployed totals 4,400 MW, an increase of 1,500 MW in 2018. This is an increase of more than 50%. Businesses expanded their solar powered capacity by 71%, while residential deployment of solar panels increased by 37%. The largest expansion was seen in Eindhoven and Leeuwarden, where the increase was 9.4 MW and 7.1 MW respectively.

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