Market information Monday June 22th 2015

According to the cabinet secretary of Jean-Claude Juncker, chairman of the European Commission the new proposal that the Greek prime-minister Alexis Tsipras has forwarded, is a good base for the Eurotop about the Greek debt crisis which will be held today. Tsipras calls it a final solution to stay within the eurozone. The ministers of Finance of the eurozone shall convene in Brussels today at 12:30 pm to discuss about the financial crisis in Greece.

The Amsterdam stock exchange opened substantially higher this morning. Hope on a Greek deal drives the AEX higher. Other European stock exchanges started likewise with firm profits. All eyes are faced on the Eurotop today. Investors hope on an agreement now the Greek government seems willing to make great concessions. The AEX-Index scored shortly after opening 2.2% higher on 485.82 points. The Midkap alley 1.7% to 723.12 points. In Frankfurt, Paris and London the stock exchanges rose by 2.6% on average.

Chairman Juncker also launched a plan to further implement the currency union. The plan provides in strengthening of the EMU in three steps. The first one begins on July 1st. The Economic and Monetary Union (EMU) needs to equipped with a European deposit guarantee scheme, a European mechanism to intercept of extern economic shocks in a euro country and in the long term also a European minster of Finance.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap increased with 4 bp to 1.19%.

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: update@zanders.eu.