Former Prime Minister Alexis Tsipras has, with his Syriza party, surprisingly won the early elections in Greece. Based upon the provisional results, Tsipras obtained 35.5% of the votes compared to his main opponent which obtained approximately 28%. This will gives Syriza 145 seats in the 300-seat parliament, 6 seats short of the absolute majority. Remarkably, the turnout was just over 55%, which is low by Greek standards.
In July, capital expenditures in the Netherlands increased again compared with the same month a year earlier, according to Statics Netherlands (CBS). Capital expenditure relates to investments in tangible fixed assets, which were 10% higher than the same month a year earlier. The increase is mainly due to significantly higher investments in homes and cars.
Credit rating agency Moody’s downgraded France with a single step from Aa1 to Aa2. Fears of low economic growth in France in the medium term is the main reason for this decision by the rating agency. The low economic growth makes it harder to lower the public debt level and Moody’s has little confidence that the French government will push forward reforms. The other two major rating agencies, Fitch and Standard & Poors, maintain the current ranking, although S&P links a negative outlook to its AA-rating of France.
The 6M Euribor remained unchanged at 0.04%. The 10Y Swap remained unchanged at 1.02%.
Mark-Paul Westerouen van Meeteren
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: email@example.com.
Managed by Sluijmer Multimedia and hosted by True.