The indicator for the economic climate in Germany shows a further recovery in May, according to the ZEW institute. The index increased to a level of 51 in May from 28.2 in April. The indicator is higher than economists expected. They expected a reading of 32. For the entire euro area, the indicator has risen by 20.8 points to a score of 46 against 25.2 in April.
In the first quarter of 2020, the turnover for the Dutch industrial sector is 2.7 % lower than in 2019, according to Statistics Netherlands (CBS) based on new figures. Domestic sales in the first quarter were nearly the same as sales of a year earlier. Foreign sales of industrial producers are 4.2 % lower. In most business sectors, sales were lower than a year earlier. The largest negative developments in turnover can be seen in the transport equipment industry, the paper and graphics industry and the refineries and chemicals.
Federal Reserve Chairman Jerome Powell attended a virtual hearing about the stimulus measures on Tuesday together with U.S. Treasury Secretary Steven Mnuchin. At the hearing, Powell told the United States Senate that the Federal Reserve is ready to use the full range of tools to support the economy during the pandemic. Mnuchin expressed his expectations for an economic recovery in the second half of this year, while Powell was more reluctant in his expectations, expecting a full recovery only by the end of 2021.
The 6M Euribor decreased with 1 basis point to -0.14% compared to previous business day. The 10Y Swap increased with 1 basis points to -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.
Managed by Sluijmer Multimedia and hosted by True.