Market Information Tuesday 26 January 2021

The corona crisis has resulted in the loss of the equivalent of 255 million full-time jobs worldwide in 2020, according to the International Labour Organisation (ILO) of the United Nations, which is four times more working hours than were lost during the financial crisis of 2009. The loss of working hours amounted to 8.8% in comparison to 2019.

By November 2020, world trade had recovered from the effects of the corona crisis. The Central Planning Bureau (CPB) announced this in its monthly World Trade Monitor. The increase in international trade was mainly driven by the import of goods by developed economies, while the export of those countries stayed behind. Total world trade increased by 2.1% in November compared to October, meaning that the total volume exceeded the level at the end of 2019.

Chinese President Xi Jinping has called for more global economic cooperation. In doing so, he urged other heads of government to give up “ideological prejudices” and avoid an “outdated Cold War mentality”, as he said China will continue to go its own way regardless of Western criticism. This is Xi’s first speech since US President Joe Biden’s inauguration.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.23% 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.