Market Information Friday 11 July 2025

In May, Dutch industrial production rose by 0.8% year-on-year after a 0.6% decline in April, according to Statistics Netherlands (CBS). Half of all industrial sectors produced more than a year earlier. Among the eight largest sectors, machine repair and installation saw the highest growth, while the chemical sector recorded the biggest decline. Adjusted for seasonal and calendar effects, production increased 0.5% compared to April. Meanwhile, manufacturer confidence declined in June, mainly due to lower expectations for production and order books.

German inflation eased slightly in June, with consumer prices rising by 2.0% year-on-year, down from 2.1% in May, according to Destatis. Core inflation, excluding food and energy, dropped to 2.7% from 2.8%. Food prices rose 2.0%, while energy prices fell by 3.5%. Compared to May, consumer prices remained stable, matching earlier estimates.

The European Commission has introduced a voluntary code of conduct to help companies comply with the EU’s new AI regulations. The code focuses on transparency, copyright, safety, and security, aiming to set global standards. Although participation is voluntary, non-signatories won’t benefit from legal certainty. The code follows the final draft of the AI Act presented by 13 independent experts. The AI Act includes strict transparency obligations for high-risk AI and lighter rules for general-purpose models. Real-time biometric surveillance in public spaces is limited to specific crimes and terrorism prevention. Rules for general-purpose AI models (GPAI) become binding from August 2, with enforcement for new models starting a year later and existing ones by August 2027.

The 6M Euribor increased with 3 basis points to 2.05% compared to previous business day. The 10Y Swap increased with 3 basis points to 2.65% 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.