Yesterday, oil prices rose slightly after oil prices fell by 3% on Monday. The closing price of WTI oil was USD 37.87 on Tuesday, this is an increase of 2.88% compared to the closing price on Monday. The market is in anticipation of the weekly report that the US Department of Energy will publish on Wednesday afternoon. This partly caused the increase in oil prices.
The court Arnhem-Leeuwarden concludes that the banks SNS and Rabobank acted irresponsibly in providing mortgages to private individuals. The court states that the banks did not fulfil their duty of care in the lending business. The banks have lent too much money without checking the ability to payoff mortgages.
The Economic Bureau of ING expects the number of bankruptcies will decline by 10% next year. This would be the third year of declining bankruptcies. However, the projected decrease is less than the two previous years. The number of bankruptcies is declined with 20% in 2015 compared to 2014. In total 6,100 companies were declared bankrupt in 2015, most of the bankruptcies occurred in the manufacturing sector.
The 6M Euribor remained unchanged at -0.04%. The 10Y Swap increased with 4 basis points to 1.00%.
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