Credit rating agency Fitch confirms the credit rating of the Netherlands. The agency adheres to its AAA rating of the creditworthiness of the Netherlands with a stable outlook. Fitch points out that the Netherlands has a flexible, value-adding, and open economy. Fitch also calls the Dutch economy effective. Due to the corona crisis, government debt will rise above the level that justifies an AAA rating. However, the credit rating agency points out that the Netherlands has a strong track record of sound budget management. Fitch expects that the Netherlands will be able to stabilize or even reduce its debt ratio in the medium term once the pandemic has passed its peak.
World trade grew by 2.5 percent in August compared to a month earlier, reports the Dutch Central Planning Bureau (CPB). That is lower than a month earlier, when growth was still 5 percent. World trade is now almost recovered to the level before the corona crisis. The difference is still 3 to 4 percent.
Activity in the American and European industry grew at a higher rate in October than a month earlier. Markit’s industry purchasing managers index in the US for this month was 53.3 compared to 53.2 in September. For the European industry, Markit’s purchasing managers index stood at 54.4 compared to 53.7 in September.
The 6M Euribor is unchanged at -0.50% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.25% 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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