Market Information Thursday 16 July 2020

Based on the so-called Beige Book, a report of the Federal Reserve that provides insight into economic activity in the United States (US), the figures for the beginning of this month showed signs of recovery from the corona crisis. The economic activity recovered in all regions of the country, but remains far below pre-crisis levels. This conclusion is drawn based on surveys by the twelve regional central banks in the US.

The number of unemployed in the Netherlands increased by 74,000 in June to a total of 404,000. Based on figures published by Statistics Netherlands (CBS), 4.3% of the labor force was unemployed. The unemployment rate increased significantly compared to May (3.6%).

Starting August, the OPEC oil cartel and allies such as Russia will gradually increase oil production. Oil production was reduced earlier this year due to sharply decreasing oil prices. This decision was made in a video conference of OPEC and its allies, in line with expectations.

The 6M Euribor is unchanged at -0.33% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.19% 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.