The Organization for Economic Co-operation and Development (OECD) stated that the economy of G20 countries grew strongly in the third quarter of 2020, after the sharp contraction in the first two quarters of 2020. The economic growth of the G20 region in the third quarter amounted to 8.1% on a quarterly basis. The strongest growth was observed in India. However, the economies of the G20 countries have not yet fully recovered compared to to the start of the corona crisis.
On Monday after it was announced that the European Union and the United Kingdom will continue to negotiate an agreement for future trade relations. The new deadline for reaching an agreement has been moved to December 31. The major discussion points are rules on fair trade and fishing rights. The European stock markets mainly displayed red figures on Monday close of business after the news about the upcoming lockdowns in Germany and the Netherlands.
Eurostat has reported that Eurozone industrial production increased by 2.1% in October 2020 compared to the previous month. On an annual basis, however, production is still 3.8% lower, as a result of the corona crisis. For the EU as a whole, industrial production growth was 1.9% on a monthly basis in October.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.30% 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.
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