Market Information Monday 1 February 2021

US consumer spending declined for the second straight month in December. This was partly due to the measures to contain the spread of the corona virus. In addition, corona support programs for unemployed Americans temporarily expired, weighing on December spending. The report by the US Department of Commerce found that consumer spending had fallen 0.2 percent last month from a month earlier. Spending in restaurants, hospitals and for recreational purposes declined. Consumer spending accounts for about two-thirds of the economic activity in the US.

Globally, governments have spent more than $ 14,000 billion to fight the corona crisis and support the economy. If it is up to the International Monetary Fund (IMF), this amount will increase further this year. “The strength of the recovery will depend on managing the pandemic and continuing the recovery of aid,” the IMF said in an update of fiscal monitor last week.

The lockdown is disastrous for business confidence, reports the Dutch trade association VNO-NCW. According to the organization, most companies may be able to survive, however the question is whether they can invest in their future. VNO-NCW interviewed dozens of industry directors for a corona survey. Most of the respondents say they have been more pessimistic about the state of the economy in the past three months. Only a small proportion became more optimistic.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.19% 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.