Market Information Tuesday 29 September 2020

Economic uncertainty about the corona crisis remains high and the virus outbreak will continue to weigh on economic activity in the euro zone. This is what President Christine Lagarde of the European Central Bank (ECB) said in discussions with members of the European Parliament. She indicated that the ECB is ready to take more steps to help the economy recover from the crisis.

Germany will raise additional funds in the last three months of the year with the issuance of government bonds. The country will issue EUR 50.5 billion in bonds and other debt securities next quarter. The extra money can be put to good use by Germany to finance the support measures it is taking in connection with the corona crisis. Incidentally, the amount targeted is significantly lower than in the third quarter. Approximately EUR 146 billion in debt was issued during that period.

Dutch industry entrepreneurs were less negative for the fifth consecutive month in September. According to Statistics Netherlands (CBS), opinions on the order book improved and entrepreneurs were also more positive about their stocks of finished products. They were, however, more pessimistic about expected activity. Producer confidence went from minus 5.4 in August to minus 4.8 in September. The average for the past twenty years is 0.4.

The 6M Euribor is unchanged at -0.47% compared to previous business day. The 10Y Swap increased with 1 basis point 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.