Market information Tuesday April 19th 2016

The failed negotiations between the OPEC countries, regarding the limitation of oil production, has a negative effect on financial markets. The Russian ruble decreased approximately 3% compared to the Euro and the US dollar, while the Japanese Yen increases compared to the Euro and the US dollar. The stock markets in Shanghai and Hongkong decreased more than 1%. The Nikkei in Tokyo decreased more than 3%, also due to an earthquake in Japan this weekend.

Numbers published by the European Automobile Manufacturers Association show an increase in car sales in March. The number of car sales was 1.7 million last March, which is almost at the pre-crisis level. In the first quarter of this year 3.8 million cars were sold, which is an increase of 8.2% compared to the first quarter of last year.

A Bloomberg survey of 47 analysts shows that more than 60% of the analysts predict that the European Central Bank will act to stimulate the euro-area. Most of them suspect that Draghi will act next September, but some of them think it could be as soon as June. All but one of the analysts, that expect action from the ECB, predict extension of the quantitative easing beyond the current end date of March 2017. Also, 36% of the analyst suspect that the deposit rate will be cut below the current level of -0.4%.

The 6M Euribor remained unchanged at -0.14%. The 10Y Swap increased with 2 basis points at 0.55%.

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: