Market information Monday June 8th 2015

The President of the European Commission Jean-Claude Juncker stated that he was “a little disappointed” about the harsh words that Greek Prime Minister Alexis Tsipras used regarding the proposals from the creditors to solve the Greek debt crisis. Last Friday Tsipras said that the proposals of the creditors are unrealistic and absurd. Finance Minister Yanis Veroufakis agrees with the Prime Minister. “As Minister of Finance I refuse to put my signature on a deal as it is now presented to us.”

The Iranian Ministry of Energy has announced that it expects Russia to import the first barrels of oil from Iran this week. Moscow will buy crude oil from Tehran in exchange for Russian goods as part of earlier trade agreements. Trade relations between Russia and Iran followed the conclusion of an agreement on the Iranian nuclear program. Besides Russia, Kazakhstan and Belarus will import Iranian oil.

Credit rating agency Moody’s has revised the prospect of Finland from “stable” to “negative”. Finland does retain its top AAA credit rating, but Moody’s is negative about Finland’s economy. Reasons for this negative outlook are the growing budget deficit and the increasing debt. Fitch lowered the credit rating outlook for Finland earlier, and Standard & Poor’s downgraded Finland to AA+.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased by 2 basis points to 1.13%.

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: