Market information Tuesday 24th of May, 2016

Figures published by research firm Markit show that the economic growth rate of the Eurozone is decreasing. In May 2016, the composite purchasing managers’ index (PMI) from Markit fell by 0.1 points to 52.9, compared to an expected increase to 53.2. However, the growth rate of German and French economy increased considerably, the PMI for these economies has increased respectively 1.1 and 0.9 points to 54.7 and 51.1.

In April 2015 Japanese exports decreased on a yearly basis by 10.1% to USD 53.5 billion, compared to an expected decline of 9.1%. In March 2016, Japanese exports already decreased by 6.8%. These figures were reported by the Japanese Ministry of Finance. The decrease is a result of the moderate global economic growth and the strong Japanese yen.

Russia is preparing to issue government bonds for the first time since the imposed sanctions on Russia, as was reported by the Financial Times. The interest rate on the US dollar-denominated 10 year bonds are estimated to be between 4.65% and 4.90%.

The 6M Euribor remained unchanged at -0.14%. The 10Y Swap increased with 2 basispoints at 0.58%.

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.