From a speech to Congress by Federal Reserve chairman Powell it appears to be likely that the Fed will cut interest rates later this month. In the past few days, the financial markets have been looking forward to Powell’s speech. Even though concrete affirmations were not given, the futures on the American stock indices increased with 0.7% and the yield on the 10-year bonds increased with 6 basis points after the publication of the speech.
The European Committee expects that the economy in the Eurozone will show a moderate growth of 1.2% in 2019. The Netherlands is expected to perform above average with a predicted growth of 1.6%, where on the other hand countries like Germany and Italy have predicted growth rates of 0.5% and 0.1%, respectively.
The French statistical office reports that the French industrial production in May increased with 2.1% on a monthly basis. In April, the industrial production increased with 0.5%. Economist expect an average increase of 0.3% per month.
The 6M Euribor is unchanged at -0.34% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.17% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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