Payroll processor ADP has reported that employment in the United States decreased by approximately 27,000 jobs in March 2020. According to ADP, the decrease is largely caused by companies that filed for bankruptcy in early March as a result of the corona crisis. In an explanation, ADP indicates that figures after 12 March have not been included in this estimate. As a result, the number may turn out to be much more negative. Economists had forecast a decrease of 150,000 jobs.
A Russian government official has reported that Russia is refraining from increasing oil production for the time being. Following the failure of the OPEC consultation on further limiting oil production, both Saudi Arabia and Russia announced to increase oil production. However, global demand has collapsed due to the corona crisis. As a result, oil prices have collapsed worldwide and it is “senseless” to pump up more oil at the moment.
Statistics Netherlands (CBS) has announced that Dutch collective labor agreement wages rose by an average of 3.1% in the first quarter of 2020. This is the largest increase since the first quarter of 2009. The real estate wage increase was the highest at 5.6%, while the energy supply sector saw the lowest increase at 1.7%.
The 6M Euribor decreased with 1 basis point to -0.29% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.04% 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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