Market Information Monday 31 January 2022

Market Information Monday 31 January 2022

This week, investors are gearing up for a series of corporate data amid macroeconomic purchasing manager indices, the US labor market and two European interest rate decisions. It could potentially be a volatile week. The AEX index stands at a loss of 6.7 percent year to date. The Nasdaq is down 13 percent. For the most part, technology stocks are declining due to higher interest rates, because of rising inflation.

Bitcoin has accounted for about one-sixth of the price fluctuations of the American stock market indicator S&P 500 since the corona crisis. This is according to a recent study by the International Monetary Fund. According to the IMF, sharp declines in bitcoin could make investors risk-averse and reduce investment in stock markets. The IMF advises haste in introducing regulation on the crypto markets to limit potential risks to the financial system.

The sanctions the United States and European Union would impose on Russia if it invades Ukraine could prove problematic for some of the largest Western oil companies. The sanctions could hinder access to specific equipment and knowledge for companies operating in Russia. For example, Shell and Exxon Mobil are jointly drilling for oil and natural gas in Russia and BP has an almost 20 percent interest in the Russian oil producer Rosneft.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.42% 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 28 January 2022

Market Information Friday 28 January 2022

The price of a barrel of West Texas Intermediate (WTI) oil fell 0.7% yesterday. This breaks with the trend of recent days where the price of a barrel of WTI rose every day and even found itself at its highest level in 7 years. However, analysts do not expect the price to fall much further. A major driver of the oil price at the moment are the tensions around the Russian-Ukrainian border and this conflict does not seem to be subsiding for a while.

Between January 15 and January 22, 260,000 initial jobless claims were filed in the United States. As a result, the number of claims fell by 30,000 from a week earlier. Analysts had previously predicted a decline of 25,000. Last month, applications rose weekly due to the rapid spread of the omicron-variant, but the number of new infections in the U.S. is now steadily declining. The four-week moving average still rose, by 15,000 to 237,000 applications. The highest number in the past two months.

Pending home sales in the United States have fallen, and as a result, the U.S. housing market appears to be slowing somewhat. The index for upcoming sales is issued by the American Real Estate Association NAR and is based on signed purchase contracts. In December, the number of signed contracts fell by 2.8% month-on-month and 6.9% year-on-year.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at 0.39% 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 27 January 2022

Market Information Thursday 27 January 2022

The Federal Reserve left its key interest rate unchanged as expected, but expressed its intention to raise it by mid-March. The federal funds rate remained unchanged Wednesday as expected at 0.00 to 0.25%. The discount rate was maintained at 0.25%.

Crude oil stocks in the United States increased last week. This was reported by the American energy agency EIA. In the week ending 21 January, crude oil stocks rose by 2.4 million barrels to 416.2 million. Gasoline stocks rose by 1.3 million barrels to 247.9 million barrels. Fuel oil and diesel stocks, on the other hand, decreased by 2.8 million barrels to 125.2 million. The capacity utilisation rate of refineries decreased to 87.7%. A week earlier it was 88.1%.

More new single-family homes were sold in the United States in December than a month earlier, while the average sales price fell. This is reported by the American Department of Commerce. The number of new single-family homes sold increased by 11.9% to 811,000. The figure for November was revised downwards from 744,000 to 725,000. The average house price fell to USD 457,300. One month earlier, this was still USD 481,700.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.39% 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 26 January 2022

Market Information Wednesday 26 January 2022

A new forecast from the International Monetary Fund (IMF) states the global economy will grow more slowly this year than expected. In particular, the expectations for the United States and China have been revised downwards. In October, the IMF still assumed growth of 4.9% for this year in its World Economic Outlook, which has now been adjusted to 4.4%.

Singapore’s central bank tightened its monetary policy settings in its first out-of-cycle move in seven years, as global supply constraints and brisk economic demand elevate inflation pressures across the region. The city-state’s trade-dependent economy is highly susceptible to swings in global inflation and the central bank’s sudden move comes as price pressures ring alarm bells for policymakers elsewhere in Asia.

Britain’s government looks firmly on track to borrow less this tax year than forecast but surging inflation will soon curb any leeway for finance minister Rishi Sunak who is under pressure to ease a cost-of-living squeeze. Borrowing for the 2021/22 financial year so far – April to December – is so far running almost 13 billion pounds below the forecasts used by Sunak in his budget planning at 146.8 billion pounds.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 5 basis points to 0.40% 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 25 January 2022

Market Information Tuesday 25 January 2022

U.S. stock markets ended in the green yesterday after taking a substantial dive that day. The S&P500 eventually rose 0.3% and ended at 4,410.13 points. The Nasdaq managed to rise 0.6% to a high of 13,855.13 points, the Dow Jones rose 0.3% to close at 34,364.50. With this, the volatile day still ended on a profit, after previously heavy losses, where for example the Dow Jones index was down about 1,100 points. This market sentiment is driven by expectations of the Federal Reserve’s interest rate decision Wednesday, and the release of corporate figures from major tech companies.

U.S. economic activity in the manufacturing and services sectors declined in January. The manufacturing index fell to 55.0 in the following month from 57.7 in December. For the services sector, the decline was even more severe: from 57.6 to 50.9. Both current index positions are the lowest points in about a year and a half.

Due to the high inflation in the UK in December, the British central bank is preparing to implement an interest rate increase. The UK consumer price index came in at 5.4% year-on-year. Wage increases may ease the pain of inflation somewhat in the coming months, but may also ensure a longer period of inflation. Hence, there is an expectation to raise interest rates to counter inflation.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.35% 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 24 January 2022

Market Information Monday 24 January 2022

For this week, the earnings season in the Netherlands continues while in the United States the Federal Reserve convenes for a meeting on interest rate policy. In addition, the macro agenda is quite busy. For Monday, composite purchasing managers indices from European countries as well as Japan and the United States are on the agenda. Business confidence for Germany and Belgium and consumer confidence for the United States are scheduled for Tuesday. Wednesday is mainly dominated by the US central bank. The Federal Reserve convenes to discuss interest rate policy and will look to formulate a policy for the labor market.

Bitcoin has lost almost half of its value since peaking in November of more than $68,000. The crypto coin ends at a value of around $35,150 on Monday. Bitcoin follows the trend of the stock markets that ended the week on a low Friday. Market analysts say there is a growing pessimism among investors and traders when it comes to risky assets. Countries such as Russia and China do not support the bitcoin mechanism and it also takes a long time for companies to accept the cryptocurrency.

House prices in the Netherlands have risen explosively in the past year. In 2021 houses were on average 15.2% more expensive than the year before. According to Statistics Netherlands, this is the largest price increase since 2000. House prices have been rising for years, but now prices are going at an unprecedented rate. Prices have peaked significantly, especially in recent months. Last December house prices rose about 20.4%.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 2 basis points to 0.38% 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 21 January 2022

Market Information Friday 21 January 2022

The total value of Dutch agricultural exports in 2021 was EUR 104.7 billion. This was published this morning by Statistics Netherlands. Exports increased by EUR 9 billion compared to 2020, thereby exceeding EUR 100 billion for the first time. The Netherlands earned about EUR 46.1 billion from the exports. Of these exports, 26.1% went to Germany, 12% to Belgium, 8% to France and 8% to the United Kingdom (UK). Exports to France rose by 14% and to the UK by 0.4%, making France the Netherlands’ third most important export country for the first time.

China lowered its interbank rate, the Loan Prime Rate (LPR), for the second month in a row. The standard LPR rate was cut from 3.80% to 3.70% and the 5-year LPR went from 4.65% to 4.60%. Earlier this week, the interest rate on a 1-year LPR was also lowered so analysts had been expecting a further cut. Nevertheless, the reduction is notable. The last time China cut its interest rates for two months in a row was almost two years ago.

Annual inflation in the Eurozone reached 5.0% in December 2021, slightly up from November 2021 when it was 4.9%. The main drivers of inflation are energy prices (25.9%) followed by food and alcohol (3.2%) and industrial products (2.9%).

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.40% 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 20 January 2022

Market Information Thursday 20 January 2022

The rise in consumer prices in Germany in December has been confirmed by new final figures from the German statistics office Destatis. Last month, the annual inflation rate came out, as expected, at 5.3% compared to 5.2% in November. On a monthly basis, consumer prices increased by 0.5%, also in line with expectations. In 2021, prices rose by 3.1%. According to Destatis, this is the highest inflation rate in almost 30 years. The harmonised consumer price index increased 5.7% year-on-year and 0.3% month-on-month in December.

The number of homes under construction in the United States rose in December compared with a month earlier, while the number of building permits issued even increased significantly on a monthly basis. This was revealed on Wednesday by figures from the US government. The number of homes under construction increased last month by 1.4% on a monthly basis to 1.7 million units. On an annual basis, the number of homes under construction increased by 2.5%. The number of building permits issued in December increased 9.1% month-on-month to 1.9 million units. On an annual basis, the increase was 6.5%. Economists had forecast a decline for both figures.

The Dutch consumer has also lost confidence in January. This was reported by the Dutch statistics office CBS on Thursday. The confidence index decreased to 28 negative, against 25 negative in December. Both the opinion about the economic climate and the willingness to buy decreased. Consumers were more negative about both the economy and their financial situation in the coming year and the past year. Consumers thought the time was as unfavourable to make big purchases in January as it was in December.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.41% 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 19 January 2022

Market Information Wednesday 19 January 2022

The price of crude Brent oil futures rose to its highest level in seven years. Brent oil was priced at 88.13 USD per barrel yesterday morning. Because fears of the Omicron variant seem to be fading away, the oil price has already risen 12% this year. Two weeks ago, Opec+ said it was planning to stick to its plans of increasing oil production.

The Bank of Japan raised its inflation forecasts, but said it is in no rush to change its loose monetary policy. Governor Haruhiko Kuroda acknowledged that price pressures were rising, but said the central bank has no intention of raising interest rates with inflation projected to stay below its 2% goal for years.

The new Dutch cabinet is under pressure to maintain the purchasing power of large groups of Dutch people. Older people have seen their purchasing power decline most in recent years. The government needs additional resources to prevent some groups from further deteriorating in the coming years.

The 6M Euribor increased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.42% 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 18 January 2022

Market Information Tuesday 18 January 2022

The UK’s Office for National Statistics has published the unemployment figures. The UK unemployment rate was 4.1% in the three months to November, seasonally adjusted. This rate is 0.4% lower than in the three prior months. Compared to the unemployment rate in the period before the corona crisis, it is higher, given that the unemployment rate then was 4.0%.

The Bank of Japan has raised inflation estimates as the country faces supply chain disruptions. According to the bank, there will be a trend in the economic recovery with a temporary increase in prices. In parallel with supply disruptions, the bank also forecasts an upward price effect due to rising energy prices and telephone tariffs compared to 2021. In the quarterly outlook, the bank now assumes a 1.1% increase in prices for next year. It also revises the growth estimate for the current year with an expected growth of 2.8% where 3.4% was first expected without the disruption in the supply chain.

Japanese manufacturing experienced a big surge in November with a 7.0% increase in production month-on-month, and 5.1% year-on-year. This is below expectations of 7.2% on a monthly basis, and according to expectations on an annual basis.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.40% 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 17 January 2022

Market Information Monday 17 January 2022

China’s economic growth and retail sales figures will be presented today. The interest rate decision of the Bank of Japan, the German ZEW index and the US Empire State index are scheduled for Tuesday. Inflation figures and consumer prices in Germany and the UK will follow on Wednesday. A series of figures from the Statistics Netherlands are scheduled for Thursday. Friday will be particularly busy with inflation figures from Japan and retail sales in the UK.

The Chinese economy is still lagging in the fourth quarter. In the fourth quarter of last year, the Chinese economy grew by 4% compared to the same period in 2020. Growth was 1.6% on a quarterly basis. The outlook is uncertaing for the coming months. The Chinese economy is under pressure because of faltering supplies and gloomy expectations.

The London Stock Exchange aims to introduce a new kind of listing that will make less distinction between public and private companies. By introducing this type of listing, the stock market is trying to make itself more attractive to fast-growing technology companies, in the aftermath of Brexit. Shares of private companies could be publicly traded in any given period between one and five days. The companies would not experience the same level of regulation and supervision as a fully publicly traded company.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 6 basis points to 0.39% 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 14 January 2022

Market Information Friday 14 January 2022

Between January 1 and January 8, 230,000 initial jobless claims were filed in the United States. The number of new applications thus increased by 23,000 from a week earlier. Analysts had previously predicted a decline of 7,000. The spread of the omicron variant seems to be the explanation for the unexpected increase. The four-week moving average also rose, by 6,250 to 210,750 applications.

Dutch goods exports increased by 8.7% in November 2021 compared to November 2020. This was reported by Statistics Netherlands (CBS) this morning. Compared to November 2019, the increase in exports was 10.2%. Goods imports also increased in November 2021, by 7.9% compared to 2020 and 9.6% relative to November 2019.

In December, China’s exports increased by 20.9% on an annual basis, according to figures published by the Chinese government. The increase is higher than analysts expected. They had taken into account an increase of 19.0%. Imports on the other hand rose less than expected, by 19.5% where analysts had predicted an increase of 24.2%. China’s trade surplus in December 2021 was USD 94.46 billion.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.33% 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 13 January 2022

Market Information Thursday 13 January 2022

Crude oil stocks in the United States fell last week, while gasoline stocks rose. This was reported by the American energy agency EIA on Wednesday. In the week ending 7 January, crude oil stocks decreased by 4.6 million barrels to 413.3 million. Gasoline stocks increased by 8.0 million barrels to 240.7 million barrels. Fuel oil and diesel stocks increased by 2.5 million barrels to 129.4 million. The refineries’ capacity utilisation rate decreased to 88.4%. This was 89.8% a week earlier.

Consumer  prices in the United States increased further in December, as expected earlier. This was reported by the American Department of Labor on Wednesday based on new figures. The prices rose last month by 0.5% on a monthly basis. Economists had expected an increase of 0.4% for December. On an annual basis, consumer prices in the US increased by 7.0% last month. In November, inflation was 6.8%. Energy prices fell by 0.4% compared to November. In contrast, food prices increased by 0.5%.

Industrial  production in the eurozone increased more than expected in November. This was shown Wednesday by figures from European statistics office Eurostat. The production increased on a monthly basis by 2.3%, after a decrease of 1.3% in October. Previously an increase of 0.4% was predicted. On an annual basis, the eurozone industry produced 1.5% less in November. An increase of 1.4% was expected.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap decreased with 4 basis points to 0.36% 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 12 January 2022

Market Information Wednesday 12 January 2022

A report presented by German climate minister Robert Habeck shows that Germany must reduce its energy consumption by 25% over the next eight years if it is to achieve its ambitious climate goals. The new German government has set itself the target of reducing CO₂ emissions by 65% by the end of the current decade compared to 1990 levels.

At a bilateral economic and trade meeting, Japan called for greater collaboration with Taiwan on semiconductior manufacturing. Mitsuo Ohashi, the Chariman of the Japan-Taiwan Exchange Association, said he hoped the collaboration will positively impact the resilience of the supply chains of both countries. Although Chinese-claimed Taiwan and Japan do not have formal diplomatic ties, they have close unofficial relations. Both share concerns about China, especially its increased military activities near the two.

In the first independent calculation of the coalition agreement, the Central Planning Bureau (CPB) says that the Dutch government debt will rise to 92% of GDP in 2060 as a result of the plans of the Rutte-IV cabinet. The Netherlands has only seen such a debt level before shortly after the Second World War.

The 6M Euribor increased with 1 basis point to -0.53% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.40% 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 11 January 2022

Market Information Tuesday 11 January 2022

According to CBS figures, inflation in the Netherlands continues to rise. Dutch consumer prices rose faster in December than in the previous month. On an annual basis, the price level increased by 5.7% in the month of December, in October this was an increase of 5.2%. The increase was mainly due to higher prices for gas, district heating and electricity. In December, the price of energy was 74.9% more expensive than in the previous year, while in November it was 57.4% more expensive. Besides energy, the price development of food also contributes to the rising inflation. Food products in December were 2.6% more expensive than in the previous year, where it was 1.1% in November. Mainly meat, vegetables and fruit have become more expensive.

Eurostat published figures on Monday showing that unemployment in the eurozone fell again in November. Unemployment fell to 7.2% in November, where it was 7.3% the month before. In the previous year, November 2020, the unemployment rate was still 8.1% in the eurozone.

At a settlement of USD 78.23, a barrel of West Texas Intermediate fell 0.9% in price. Concerns about omicron, and production disruptions in Kazakhstan and Libya are factored in into the price development.

The 6M Euribor decreased with 1 basis point to -0.54% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.38% 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 10 January 2022

Market Information Monday 10 January 2022

It will be a busy week for investors, with the start of the US earnings season at the end of the week. The focus is mainly on inflation developments in the United States and China. Unemployment figures will be presented in the eurozone on Monday. Dutch inflation figures are scheduled for Tuesday. Inflation data from China and the US will follow on Wednesday. China’s trade balance is on the agenda for Thursday. Friday will be especially busy with quarterly figures from several large banks in the US.

High energy prices could force the European Central Bank to take action to suppress inflation. This was announced by the ECB at the American Finance Association 2022 Annual Meeting. According to the ECB, central banks should look at the risks associated with price stability and whether rising energy prices have a significant impact on headline inflation.

Analysts consulted by Bloomberg news agency predict that the rising trend of oil prices is likely to continue this year. The rising demand for fossil fuels has an upward effect on the oil price. The price for a barrel of Brent is around $83, this could rise to at least $100 in the coming months. Oil prices are an important driver of energy prices, which in turn play an important role in the high inflation of recent months.

The 6M Euribor increased with 1 basis point to -0.53% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.37% 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 7 January 2022

Market Information Friday 7 January 2022

Between December 25 and January 1, 207,000 initial jobless claims were filed in the United States, the number of new applications rose by 7,000 from a week earlier. Analysts had predicted a decline of 5,000. The spread of the omicron variant seems to be the explanation for the unexpected increase. The four-week moving average also rose, by 4,750 to 204,500 applications.

Consumer prices in Germany rose faster than expected in December. On a monthly basis, inflation was 0.5%, versus a level of 0.3% expected by economists. Year-on-year inflation came in at 5.3%, slightly higher than inflation in November of 5.2%. The driving factor remains rising energy prices. In December, these rose by 18.3% after an increase in November of 22.1%.

Growth in the British services sector stagnated in December. This was revealed on Thursday by final figures from Markit. The index measuring activity in the services sector came in at 53.6 in December versus 58.5 in November. The purchasing managers index also fell, from 58.1 in November to 57.6 in December. As a result, the composite index fell from 57.6 to 53.6.

The 6M Euribor is unchanged at -0.54% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.35% 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 6 January 2022

Market Information Thursday 6 January 2022

Private sector employment in the United States increased more than previously expected in December. This was reported by the payroll processor ADP based on new figures. The number of jobs increased in December by 807,000. An increase of 375,000 jobs was expected. In November, the number of jobs increased by 505,000.

Inventories of crude oil in the United States decreased last week, while gasoline stocks increased, according to the American energy agency EIA. In the week ending 31 December, crude oil stocks fell by 2.1 million barrels to 417.9 million. Gasoline stocks increased by 10.1 million barrels to 232.8 million barrels. Fuel oil and diesel stocks increased by 4.4 million barrels to 126.8 million. Refinery capacity utilisation was virtually unchanged at 89.8%.

The purchasing managers’ index of the service sector of the eurozone for December was lower than a month earlier. This was reported by Markit on Wednesday based on new figures. The index that measures the activity of the service sector in the eurozone was 53.1 in December versus 55.9 in November. The preliminary figure was 53.3. On Monday, the growth in the industrial sector of the eurozone in December was reported at 58.0 compared to 58.4 in November. The composite index fell from 55.4 in November to 53.3 in December. The provisional index stood at 53.4.

The 6M Euribor is unchanged at -0.54% compared to previous business day. The 10Y Swap is unchanged at 0.33% 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 5 January 2022

Market Information Wednesday 5 January 2022

Because of limited supplies from Russia, the gas price is rising again towards 100 euro per megawatt hour (MWh). The price of the leading gas contract in Europe — the 1-month TTF forward — was about 17% higher on Tuesday.

The yield on US and European government bonds is on the rise this week. Since half December the yields on government bonds is on the rise. The yield on Dutch ten-year bonds is currently positive again and is at its highest level in two months.

The members of the Organization of the Petroleum Exporting Countries and allies including Russia (OPEC+) agreed on Tuesday to stick to the planned increase in oil output for February because it expects the Omicron variant to have a short-lived impact on global energy demand. OPEC+ has raised its output target each month since August by 400,000 barrels per day.

The 6M Euribor increased with 1 basis point to -0.54% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.33% 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 4 January 2022

Market Information Tuesday 4 January 2022

On Monday, Markit published figures on the growth of various countries’ industries. Activity is measured by the purchasing managers index. The purchasing managers’ index is an economic indicator drawn up from monthly reports and surveys. An index above 50 indicates growth, and below 50 indicates contraction.
The purchasing managers’ index for industry in the entire euro zone fell from 58.4 to 58.0. This was equal to the forecast that had been made. German manufacturing growth remained stable in December. There was an expected increase from 57.4 to 57.9, but it didn’t materialize and the German purchasing managers’ index remained at 57.4.

In Germany, retail sales increased in November. On a monthly basis, sales rose 0.6% in November, adjusted for inflation. On an annual basis, retail sales fell 2.9% in November.

Turkish inflation rose to 36% in December. This is the highest inflation measured since 2002. In Turkey there has been an increase in consumer prices for seven consecutive months. Compared to November, consumer prices are 13.5% higher.

The 6M Euribor is unchanged at -0.55% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.34% 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 3 January 2022

Market Information Monday 3 January 2022

It promises to be a busy macro week. For today, investors will be eyeing the release of the industry purchasing managers’ indices for December, which will be announced during the trading day in the eurozone and US. For the UK, China, and Japan this will be a day later. For the rest of the week, the focus is mainly on unemployment and inflation figures.

The omikron variant will have little impact on the oil market. A technical report from oil cartel OPEC states that the virus variant will have limited and temporary impact on the oil market. This is due to the fact that the world is better equipped to deal with Covid-19 challenges. The door remains open for a further increase in production. An OPEC+ meeting is scheduled for Tuesday.

Fewer cars were sold in 2021 in The Netherlands, according to figures from the RAI Association, BOVAG and data agency RDC. In 2021, a decrease of 9.2 percent was measured to 322,831 units. The sector is under great pressure due to chip shortages, which have disrupted the supply and caused for the car manufacturers to produce fewer cars. For the new year, the market is expected to recover and reach 390,000 new vehicles.

The 6M Euribor decreased with 1 basis point to -0.55% compared to previous business day. The 10Y Swap is unchanged at 0.30% 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.