Last week, a global minimum profit tax seemed to be a step closer, but there are still a number of hurdles to overcome. One is the so-called digital tax that the European Commission (EC) wants to introduce. Currently, the EC plans to introduce a 0.3% tax on online sales of companies with sales above EUR 50 million. In the eyes of the US, this tax is aimed at American ‘Big Tech’ companies and would thus violate recently concluded tax agreements.
In the US, the number of new jobless claims rose unexpectedly. Several economists had anticipated a further decline to 350,000 new claims, but in the week ending July 3 there were 373,000 new claims. With this increase of 9,000 applications compared to the previous figures, the recovery in the U.S. labor market appears to have slowed down slightly.
According to recent research by Rabobank, the consumption of Dutch households increased significantly in June this year. Compared to June 2020, an increase of 9% was observed. Compared to June 2019, which was unaffected by the pandemic, spending increased by 4%. The spending pattern is thereby shifting back to normal, according to the researchers.
The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.01% 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.
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