Market Information Monday 9 December 2019

Based on research of De Nederlandse Bank (DNB), Dutch companies save much more compared to companies in other European countries. The payout ratio of dividends for Dutch companies is 49%, while the average payout ratio in the euro area is 83%. According to DNB, tax incentives cause that these entrepreneurs hoard much of their profits.

Exports of Chinese goods decreased again in November, according to figures published by the Chinese government on Sunday. The decrease was 1.1% compared to November 2018. This is not in line with the expectations of economists, because American and European companies increase their purchases for the coming holidays. This is the twelfth month in a row that the export of products in China is decreasing.

This week the Federal Reserve and the European Central Bank (ECB) will announce their final interest rate decision of the year. For the ECB this will be the first interest rate decision by new bank president Christine Lagarde. The Federal Reserve decides on interest rates on Wednesday, the ECB on Thursday.

The 6M Euribor is unchanged at -0.34% compared to previous business day. The 10Y Swap is unchanged at 0.11% 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.