Market information Friday 13th of May, 2016

In its monthly report about the oil market, the International Energy Agency (IEA) concludes that the global oversupply of oil is decreasing. In previous months, the IEA presented similar conclusions. In addition, the IEA reports an expected increase of the global oil demand because of rising oil consumption in India, China and other emerging countries. For the second half of 2016, the IEA estimates an oversupply of 200,000 barrels per day. Yesterday, the price of a barrel Brent oil rose to nearly USD 48.00.

Thursday, the European statistics agency Eurostat announced that industrial production in the Eurozone in March was down by 0.8% compared to February 2016. Economists had expected a stabilisation of the industrial production. Although industrial production declined on a monthly basis, production was 0.2% higher in March 2016 compared to March 2015.

Yesterday, Statistics Netherlands (CBS) reported that the number of Dutch unemployed decreased with 9% from 664,000 in the first quarter of 2015 to 604,000 in the first quarter of 2016. Long-term unemployment even dropped with 20% to 232,000. Unemployment decreased in particular among 25- to 45-year-olds.

The 6M Euribor remained unchanged at -0.14%. The 10Y Swap increased with 3 basispoints to 0.55%.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: