The Chinese economy is growing harder than expected. During the second quarter the economy has grown by 7% while 6.8% was expected. The economy of the country has grown 7% during the second quarter. The industrial production also grew 6.8% and the retail sales 10.6%.
Last quarter, banks in the Eurozone have become more flexible in providing loans to companies and households. There is a 3% increase in loans to companies. The relaxation is mainly due to an increased competition, and business demands for loans increased due to the low interest rates.
Following a report of the IMF, the debt of Greece is considered less sustainable than was thought before by the European authorities. It could mean that the IMF is not going to be participating in a support program. Under its rules, the IMF cannot participate in a bailout if the country’s debt is considered unsustainable.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 1 bp to 1.20%.
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