Market Information Wednesday 12 May 2021

The Financial Times reported on Tuesday that tariffs for commodity transport by sea have risen sharply. The possible cause of the increase is the demand for iron ore from China. The Baltic Dry Index, which measures the cost of maritime transport and raw materials, has increased by 700% since April 2020, closed at its highest level in 10 years.

In the Netherlands, 124 companies and institutions were declared bankrupt in April, 21 companies less than in March. The closures took place relatively often in the transport and storage sector. Business services were also more affected than other industries.

Norway will withdraw a record amount from the oil fund to deal with the consequences of the corona crisis, as announced by the government in Oslo on Tuesday. The Government Pension Fund Global manages more than EUR 1,100 billion. The revised budget for 2021 shows that Prime Minister Erna Solberg’s government wants to spend EUR 40.2 billion on economic support measures.

The 6M Euribor is unchanged at -0.51% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.16% 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.