Market Information Wednesday 10 February 2021

Joe Biden’s preference for Neera Tanden as head of the Office of Management and Budget (OMB), reflects his critical attitude towards China concerning China’s trade rule compliance. Tanden said she will work with Congress to ensure the security of US supply chains. She also wants to work with allies to increase pressure on China to comply with global trade rules. Should she be elected, she will succeed Russell Vought as head of the agency that controls the $ 4 trillion federal budget and all regulatory and tax initiatives of the US.

Exports from Germany are recovering after a significant decline of 9.3% in 2020 because of the pandemic, statistics agency Destatis reports. However, during the financial crisis of 2009 German exports fell twice as much. The revival of German exports can be explained by the rapid economic recovery of China and other Asian countries in 2020.

The Dutch government issued a loan of EUR 6 billion on Tuesday, at a negative yield of -0.316%. The loan is part of a EUR 12 billion bond package, primarily designed to cover the costs incurred to compensate for the pandemic.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.12% 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.