Market Information Wednesday 17 February 2021

In 2020, the economy in the Netherlands shrank by 3.8%, according to the Statistics Netherlands (CBS). The decline is stronger than during the financial crisis in 2009. This makes it the largest decline in the Dutch economy since the Second World War. However, The Netherlands performs better than other European member states, as the European statistical office Eurostat reported that the average decline in Europe is 6.8% over 2020.

On Tuesday, the price of bitcoin rose to over USD 50,000, which is a record high for the digital currency. Since the beginning of 2021, bitcoin has appreciated significantly, namely by 70%. The explanation for this increase is the investments by institutional investors and companies in the cryptocurrency, such as Grayscale Investments, MicroStrategy and Tesla.

Ngozi Okonjo-Iweala has been elected Director General of the World Trade Organization (WTO). Despite objections by former President Trump and his administration three months ago, the 164 members have decided to nominate her in a special hearing. A historic moment, as she is the first woman and the first African person to fulfil this function.

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 4 basis points to -0.02% 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.