Market information Monday August 10th 2015

Greece has reached an agreement with its creditors last Saturday. This agreement contains the reforms Greece has to execute in the next three years. Without this agreement Greece would not get a third bailout package of EUR 86 billion and would not be able to repay the European Central Bank on the 20th of August.

The Chinese export decreased in July with 8.3%. Economist predicted a downturn of 1%. It was the biggest downturn in the past 6 years. Figures given by the Chinese government showed that product prices declined by 5.4% in July. That is the strongest price decline since October 2009.

Deutsche Bank is struggling with a setback in the Netherlands. Deutsche Bank needs to depreciate on the credit book, just like recent years, that consists of 18,000 small business customers which came with the purchase of a part of ABN Amro in 2010. Deutsche Bank had a loss of nearly EUR 100 million loss in the Netherlands last year. With this result, the loss for Deutsche Bank totaled to approximately EUR 1.3 billion in the Netherlands since 2010.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 3 bp to 1.02%.

In the attachment below, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: