Market Information Thursday 7 January 2021

Employees covered by a collective labor agreement (CLA) have seen their wages increase the most in twelve years in 2020, based on figures from Statistics Netherlands (CBS). This is not consistent with corona crisis, however, agreements on wage increases had already been concluded for almost three-quarters of all collective labor agreements as per the beginning of 2020 (prior to the outbreak). For the three CLA sectors, wages in the government increased most, at 3.2%. Wages increased the least at 2.7% at subsidized institutions.

The European Commission will invest EUR 178 million in shares and grants to 42 European start-ups. It is the first time that the day-to-day EU management takes stakes in commercial enterprises. This concerns an investment between EUR 500,000 and EUR 15 million per company. With the investment program, Brussels wants to help young European technology companies develop faster and attract traditional investors.

Industries such as retail, hospitality, aviation and tourism are severely affected by strict corona measures in many European countries. According to British market researcher Markit, activity in the eurozone services sector declined more sharply in December than expected. The services sector in the eurozone thus shrank for four months in a row. The purchasing managers index for the euro countries was 46.4.

The 6M Euribor increased with 1 basis point to -0.52% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.25% 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.