Market Information Friday 8 July 2022

The Dutch industry produced 10.0% more in May 2022 than in May last year, according to Statistics Netherlands. From April to May this year the production decreased, by 2.3%. In June this year, the confidence of manufacturers was also measured and it appeared to have decreased. However, producer confidence was still well above the long-term average.

Federal Reserve Director Christopher Waller yesterday expressed support for a 75 basis point interest rate increase in the upcoming July 27 interest rate decision. In doing so, he joins other Fed directors. The director of the St. Louis Fed, James Bullard, also indicated this week that he supported a stronger increase. Bullard also expressed support for a 50 basis point interest rate increase in September.

At the European Central Bank’s monetary policy meeting last month, policymakers stated that the European Central Bank is moving toward monetary normalization significantly faster than previously thought. The reason for the accelerated monetary normalization is increased inflation and volatility in inflation, according to the minutes of the meeting on June 9 this year.

The 6M Euribor is unchanged at 0.23% compared to previous business day. The 10Y Swap increased with 10 basis points to 2.12% 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.