The confidence of German investors in the future of the economy has declined further. The ZEW research institute reports this on the basis of a poll in November. The ZEW index, which reflects confidence over the next three to six months, was 39 from 56.1 in October. Economists had anticipated a reading of 44.3. The index that measures confidence in the current situation is still negative. Pessimism has increased even further, to a level of -64.3 against -59.5 a month earlier.
British unemployment increased sharply in the third quarter. In July, August and September, 243.000 people were unemployed, bringing the unemployment rate to 4.8%. The Office for National Statistics (ONS) announced this on Tuesday. It is the highest unemployment rate in four years. The number of unemployed is 0.7% higher than in the second quarter of 2020 and 0.9% higher compared to the third quarter of last year.
The budget committee of the European Parliament and temporary EU chair Germany reached an agreement on Tuesday on the new European multi-year budget and the corona recovery fund. The new EU budget (2021-2027) will increase slightly due to the recovery fund, from € 1074 billion to more than € 1086 billion. The extra budget will go to, among other things, fifteen European programs in the fields of climate, research and innovation, healthcare, defense, student exchange and migration.
The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.18% 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.
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