Market information Monday November 30th 2015

Last Sunday, the European Commission announced to agree to the rescue of the largest Greek bank, Piraeus Bank, by the European rescue fund ESM. This fund puts EUR 2.72 billion in the Greek bank. This is part of the EUR 10 billion which the Eurogroup set aside in August to provide Greek banks with new capital.

The proportion of the Dutch and the European Union economy in the global economy has halved in the last 35 years, reports Statistics Netherlands. In 1980, the Dutch share was 1.3%, last year it was 0.7% of the global economy. The EU fell from 30% in 1985 to 17% last year. The decrease is mainly due to the growing Asian economies. In absolute terms, the European economy has grown significantly in the last 35 years.

Last Friday, the Dutch Minister of Finance, Jeroen Dijsselbloem, announced to sell the insurer ASR in Q1 2016. ASR was bought by the Dutch State in 2008 for EUR 3.6 billion. The book value of the insurer is EUR 3.2 billion, according to Dijsselbloem. Earlier this year, analysts estimated the value between the EUR 3 billion and EUR 5 billion, but at that moment the market sentiment was more positive. As with ABN Amro, the IPO will be completed in tranches.

The 6M Euribor decreased with 1 bp to -0.04%. The 10Y Swap increased with 1 bp to 0.84%.

In the attachment, 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.