Market information Thursday 2nd of July 2015

Yesterday the euro countries suspended negotiations with Greece. They await the results of the referendum announced for Sunday. As agreed upon by the ministers of finance of the euro countries (the Eurogroup) during their meeting this Wednesday night. The Greek government holds a referendum Sunday on proposals for Greece’s rescue lenders.

The European Central Bank (ECB) left the ceiling for emergency aid (ELA) to Greek banks unchanged last Wednesday. Bloomberg reported that the ECB thus upheld the decision made by Sunday, when the level of aid was also not inflated. Meanwhile the Greek financial authorities decided to keep the Greek banks until at least next Monday closed.

Due to an increased in interest rates last month, the Dutch pension funds were in a better financial position. The average coverage ratio of the funds increased slightly, by 1% to 108%.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap increased 8 bp to 1.23%.

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: update@zanders.eu.