Market Information Wednesday 3 February 2021

The economy of the eurozone showed a contraction of 0,7% in the fourth quarter of 2020 compared to the previous quarter, as reported by the European statistics agency Eurostat based on preliminary estimates. On an annual basis, the economy contracted with 6,8% in 2020. For the entire European Union, Eurostat reports a reduction of 0,5% on a quarterly basis and a decrease of 6,4% on an annual basis.

After a significant contraction in 2020, the Dutch industry is expected to show a recovery this year. According to ING economists, the corona crisis affects the industry less than other sectors. For 2021, the bank expects an increase of 2.5%, compared to a contraction of 5% in the previous year. ING expects the production recovery to last at least until 2022.

US Treasury Secretary Janet Yellen is convening stock market and financial market regulators to discuss the severe price fluctuations caused by trading of individuals in, among others, Gamestop shares. She wants to discuss market volatility with the heads of the SEC stock exchange regulator, the Federal Reserve, the Federal Reserve Bank of New York, and the derivatives market regulator CFTC. A US Treasury official said that Secretary Yellen finds the integrity of the markets important and would like to discuss whether recent events are in line with protecting investors and fair and efficient markets.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.17% 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.