Market Information Monday 7 December 2020

Factory orders in the United States increased 1 percent in October from a month earlier, as announced by the US Department of Commerce. Economists expected an average increase of 0.8 percent. Employment in the United States grew at a lower rate in November than a month earlier. Last month, according to the US Department of Labor, 245,000 jobs (excluding agriculture) were added, which is significantly less than expected.

The European Central Bank (ECB) is on the verge of extending its corona-crisis buying program for another year. That decision could be announced next Thursday when the ECB convenes, reports Bloomberg news agency based on insiders. According to Bloomberg sources, policymakers would agree that the massive buy-back program should last at least twelve months longer. This would mean the program would be continued at least until mid-2022.

Credit rating agency Fitch has kept Italy’s rating the same at BBB-, despite the southern European country’s substantially increased debt as a result of the corona crisis. Fitch points to the very diverse economy, including industry, tourism, agriculture and a significant financial sector.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap is unchanged at -0.24% 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.