Market Information Wednesday 28 April 2021

The German government expects the economic recovery this year to be slightly stronger than anticipated in January. Gross domestic product (GDP) will grow by 3.5% in 2021, half a percentage point more than three months ago. GDP growth of 3.6% could follow in 2022 and, according to the Minister of Economic Affairs Peter Altmaier, the economy will be back to pre-Corona levels by next year at the latest.

On Tuesday, the oil price rose significantly, despite the increase in the number of corona infections in India. A barrel of Brent oil was paid $ 66.04 on Tuesday at the end of the European trading day, an increase of 0.5% from Monday. This is in line with the earlier forecast of oil demand growth in 2021, drawn up by the technical committee of oil-producing countries.

Easing the corona measures in the Netherlands will have a positive effect on the economy, Rabobank predicts. In the second quarter of 2021, it is expected that only 1% of GDP will contract, after which it is expected that GDP will grow by 1% in the third quarter. Especially shopping without an appointment gives a strong impulse. A strong increase in transaction data had already been observed when shopping by appointment became possible.

The 6M Euribor increased with 1 basis point to -0.51% compared to previous business day. The 10Y Swap is unchanged at 0.09% 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.