Market Information Tuesday 20 February 2024

The Dutch government raised €2.44 billion through two reopened treasury bond auctions, announced the agency of the Ministry of Finance on Monday. The short-term bonds have maturities until April 29, 2024, and July 30, 2024, with yields of 3.816 and 3.74 percent, respectively. The two-month bond issuance attracted bids totaling over €6 billion, while the five-month bond saw bids totaling €2.55 billion. Subscriptions reached €2.16 billion for the first bond and €1.82 billion for the second.

EU governments are planning to approve a regulatory update for managers of alternative investments, including direct lenders. The update introduces leverage caps for private credit funds and other restrictions, which the industry warns could be burdensome. These new rules represent a significant effort by authorities to regulate an asset class that has expanded rapidly since the financial crisis, particularly in leveraged buyouts where private credit increasingly substitutes bank lending. The aim is to mitigate risks outside of traditional banking institutions pre-emptively, without stifling a burgeoning market that provides alternative funding sources.

The 6M Euribor decreased with 3 basis points to 3.90% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.77% 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.