Market Information Thursday 4 February 2021

Last January, more than 17,000 companies deregistered from the Dutch Chamber of Commerce. This is the highest number of cancellations since the outbreak of the corona crisis (mid-March 2020), based on the monthly Business Trend Report presented by the Chamber of Commerce this morning. However, the number of bankruptcies is still at an unprecedented low level due to the government’s support measures. This has led to a discussion about the economic dynamics in the Netherlands. The cabinet intends to keep the so-called “zombie firms” alive through the extensive support packages.

American businesses created 174,000 new jobs in January 2021, based on the monthly job report of pay slip processor ADP. In December 2020 a job loss of 78,000 was registered. The increase may be a sign that the labor market in the United States is recovering after the contraction in December. The services sector accounted for the most new jobs: 156,000. In particular, the education & health sector and business services created many jobs.

Inflation in the eurozone increased sharply to 0.9% in January, reports the European statistical office Eurostat, based on provisional figures. For the first time in months, inflation was not negative. Increased inflation in Germany, where a temporary reduction in VAT expired at the end of last year, plays an important role in this. The price of food, alcohol and tobacco in particular increased.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.14% 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.