Market information Thursday April 21th 2016

Saudi Arabia is set to secure a loan of $10 billion from international banks. The proceeds are required to address the budget shortfall, mainly caused by low oil prices. The budget shortfall for 2016 is 18%. It is the first time in 15 years that Saudi Arabia has gone to international markets to secure a loan.

Oil prices increased yesterday. The price of US oil (WTI) and Brent crude oil increased with approximately 3.0% to USD 42.33 per barrel and USD 45.39 per barrel. The increase is caused by the decrease in the US crude production and the possible new international negotiations to curb the production of oil.

Figures published by Statistics Netherlands (CBS) show an increase in the house prices of 4.3% compared to March 2015. The increase is the highest in 8 years. Since June 2013 house prices have been rising in the Netherlands.

This afternoon the European Central Bank will discuss its monetary policy.

The 6M Euribor remained unchanged at -0.14%. The 10Y Swap remained unchanged at 0.56%.

In the attachment, 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.