Market Information Monday 5 August 2019

Kristalina Georgieva has been nominated by the European Commission as the new top woman of the International Monetary Fund. Therefore, it is likely that the Bulgarian former World Bank director will succeed Christine Lagarde, who will become president of the European Central Bank. Other countries will still have to officially approve the nomination, but traditionally Europe nominates the president of the IMF, while the US nominates the president of the World Bank. The Dutch former finance minister Jeroen Dijsselbloem was also mentioned as a possible candidate, but he withdrew after it became clear that he received insufficient support from Eastern European countries, France and Italy.

Figures from the US Department of Labor show that employment in the United States increased less in July 2019 than the month before. The change in non-farm payrolls amounted to +164,000 in July, while 193,000 new jobs were added in June 2019. The average hourly wage increased by 0.3% on a monthly basis.

The monthly purchasing managers index of Markit and Caixin shows that the service sector in China grew less rapidly in July 2019 than the month before. The index fell from 52.0 to 51.6. Economists had expected the index to remain constant at 52.0. The composite index, which also contains figures from the industry, did rise from 50.6 to 50.9.

The 6M Euribor is unchanged at -0.36% compared to previous business day. The 10Y Swap decreased with 5 basis points to -0.07% 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.