Market Information Thursday 7 December 2023

In November, data from the Chinese government revealed an unexpected 0.5% year-on-year increase in export in dollars, contrary to economists’ expectations. Simultaneously, imports decreased by 0.6%, deviating from the predicted 3.0% growth. The Chinese trade surplus rose to $68.39 billion, exceeding the anticipated $57.1 billion. Both in dollars and yuan, exports increased by 0.5% and 1.7%, respectively, while imports in yuan grew by 0.6%.

In October, the deficit on the U.S. trade balance increased, as indicated by data from the U.S. Department of Commerce. The deficit rose from $61.2 billion in September to $64.3 billion in October, slightly higher than the expected $64.1 billion according to analysts. Export decreased by 1.0% to $258.8 billion, while imports increased by 0.2% to $323.0 billion. The trade deficit with the European Union was $19.2 billion, and with China, there was a deficit of $63.8 billion.

In October, Dutch households spent less compared to the same period last year, according to data from Statistics Netherlands. Expenditures decreased by 0.2% on a yearly basis. Statistics Netherlands reports a reduction in spending on goods but an increase in spending on services. In September, there was a larger decrease in expenditures on a yearly basis, namely 1.9%. Statistics Netherlands emphasizes that consumption figures are volume figures, adjusted for price changes. Additionally, Statistics Netherlands notes that the conditions for consumption in November were less favorable than in October.

The 6M Euribor is unchanged at 3.95% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.68% 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.