Market Information Thursday 22 July 2021

The International Monetary Fund (IMF) continues to expect the global economy to grow by around 6.0% this year, in line with the last forecast in April. This is reported by Reuters based on an online event with Managing Director Kristalina Georgieva of the IMF. Georgieva warns, however, that the economic recovery strongly depends on the pace of the vaccinations. The goal of ending the pandemic by the end of 2022 will not be achieved at the current pace of vaccinations.

Existing owner-occupied houses in the Netherlands became more expensive in June 2021. Based on figures from Statistics Netherlands (CBS) and the Land Registry published on Thursday. In June, houses were 14.6% more expensive than one year earlier. The last six months the price increase in the Netherlands is accelerating. This is the largest price increase since December 2000. The price increase weakened somewhat in 2019, but picked up again in 2020.

The volume of investments in The Netherlands was 10.3% higher in May than in the same month a year earlier, as reported by CBS. Nevertheless, investments were still almost 10% lower than in May 2019. In particular, investments in homes and buildings, passenger cars and machinery increased. CBS also stated that the conditions for investments in the month of July are more favorable compared to May. This is mainly because the growth of exports has increased and because entrepreneurs were more positive about their order books.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.03% 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.