China’s main stock market in Shanghai (Shanghai Composite) closed 8.5% lower on yesterday’s trading session. This was the largest decline in eight years. The effect of recent government intervention of a few weeks ago, were not sufficient to support the stock exchange. Due to the decline of yesterday, hundreds of billions of euros in market value evaporated.
The International Monetary Fund (IMF) urged the European Central Bank (ECB) to extend its quantitative easing program. The IMF warns for a subdued economic recovery the Eurozone is facing. It’s important that the ECB continues with its policy of quantitative easing until September 2016 to boost economic growth, according to the IMF.
Oil prices dropped yesterday and are now at their lowest level since early April of this year. The price of a barrel of American oil (WTI) decreased by 1.4% to USD 47.48. The price of a barrel of North sea oil (Brent) decreased by 2.3% and to USD 53.24.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap increased with 3 bp to 1.04%.
In the attachment below, 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: email@example.com.
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