Greek banks reopened today after three weeks of being closed due to country’s financial situation. However there will still be restrictions. The block on capital transfers abroad is upheld, and the Greeks are only allowed to withdraw EUR 420 from ATMs on a weekly basis. The Greeks also face price rises due to an increase in VAT.
The U.S. Consumer Price Index for increased 0.3% in June. The core inflation, i.e. the price changes for all items less food and energy, rose by 0.2%. The U.S. housing sector reported that housings starts rose 9.8% compared to last year. Also the number of building permits increased by 7.4% in June.
Alibaba and Unilever singed a strategic partnership. With this agreement, Unilever is able to reach customers across China through Alibaba’s data driven online marketing unit Alimama. Key areas of this agreement include rural China penetration, cross border e-commerce, consumer protection and Big Data.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 2 bp to 1.10%.
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