Market Information Tuesday 12 July 2022

The Euro reached its lowest point in 20 years against the US Dollar yesterday. Fears that Europe will fall into recession due to the energy crisis combined with the Federal Reserve’s plan to raise interest rates, has caused the Euro to come close to parity with the US Dollar. Maintenance on the main gas pipeline between Russia and Germany, Nord Stream 1, started yesterday and is expected to last 10 days. However, there is doubt whether the gas pipeline will remain closed for longer due to the ongoing conflict between Russia and Ukraine.

Following China’s announcement of new measures to combat the spread of the corona virus, fears of a further drop in oil demand have increased. China is the largest importer of oil so new corona restrictions could lead to lower demand.

Statistics Netherlands announced that the number of bankruptcies in The Netherlands decreased in June. The number of bankrupt companies decreased by 24 on a monthly basis compared to May with an increase of 71. The number of bankrupt companies in the first half of 2022 is over 2 percent lower than the first half of 2021.

The 6M Euribor increased with 8 basis points to 0.32% compared to previous business day. The 10Y Swap decreased with 8 basis points to 2.08% 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.