Market Information Wednesday 15 July 2020

According to the European statistics agency, Eurozone manufacturing output increased by 12.4 percent in May compared to April. Economists had generally expected a plus of 15 percent. In April, euro area industrial production declined by an adjusted 18.2 percent. For the entire European Union, production growth of 11.4 percent was recorded on a monthly basis in May. In April the economy contracted with 18.2 percent.

The UK economy declined by nearly a fifth in the months of March to May compared to the same period a year earlier. Compared to February, gross domestic product (GDP) actually fell by almost a quarter. The British statistics agency Office for National Statistics (ONS) announced this on Tuesday. The biggest declines were in the construction sector, which contracted by 29.8% in the three lockdown months. Agriculture fared less badly with a contraction of 6.3%.

The US government announced that inflation in the United States was 0.6 percent year-on-year in June, down from 0.1 percent in April. The increase in the average price level corresponded to the expectations of economists.

The 6M Euribor is unchanged at -0.33% compared to previous business day. The 10Y Swap decreased with 3 basis points 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.