Market information Tuesday July 7th 2015

The Greek Prime Minister Alexis Tsipras has the support of its opposition to come to a better support-solution, as written in a joint statement by the most important Greek political parties. “The government takes responsibility to continue talks, and every leader will contribute, within the parameters of his or her institutional and political role”, according to the statement.

The European Central Bank (ECB) maintains the current emergency support to Greek banks and increased the demands for collateral. The Emergency Liquidity Assistance (ELA) is currently at EUR 88.6 billion. Despite the current financial difficulties at Greek banks, the ECB has not increased the amount for over a week.

The price of American crude oil (Nymex) dropped by 6% to USD 53.50 yesterday, the lowest point since March of this year. Commodity traders were caught by the Greek debt crisis and the potential it can have on the European economic growth.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap increased by 2 basis points to 1.15%.

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: update@zanders.eu.