Last week claims for unemployment benefits increased by 6,000 to a seasonally adjusted 278,000 for the week that ended on 27 February. An amount of claims below 300,000 is associated with healthy labour market conditions.
Brazil’s economy experienced a sharp contraction in 2015 due to a layoff of more than 1.5 million workers due to businesses slashing investment plans. Brazilian GDP declined by 3.8 percent last year, which is the worst performance of any major economy in 2015.
Global business activity expanded at its lowest rate since three years during February 2016 while firms cut prices for the first time since September. JPMorgan’s Global All-Industry Output Index showed that the index decreased to 50.6 in February, from 52.6 in January. Euro zone businesses experienced their worst month in February since a year. Markit’s euro zone composite, a guide to economic growth, fell to 53.0 last month from 53.6 in January. In the US the services sector purchasing managers index fell to 53.5 In January, from 55.8 in December.
The 6M Euribor increased by 1 basispoint to -0.13%. The 10Y Swap declined by 6 basispoints to 0.55%.
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