Market information Wednesday March 16th 2016

In the fourth quarter of 2015, employment in the euro area increased by 0.3% compared to the previous quarter. On an annual basis, employment in the euro area rose by 1.2%. In the European Union as a whole, employment increased by 1% in 2015. The European statistics agency Eurostat presented these figures yesterday.

In January 2016, Dutch companies exported 5.6% more goods than in January 2015, according to Statistics Netherlands (CBS). This is the largest increase in goods exports in a year. In December 2015, the growth in goods exports was only 1.5% compared to December 2014. One of the drivers behind this increase was the growing export of transport equipment such as ships and cars. Dutch companies also exported more oil and chemical products and electrical machinery.

Last month, the financial position of large Dutch pension funds weakened even further. The coverage ratios of the pension funds ABP, PMT, Zorg en Welzijn and PME all decreased below the 90% threshold. The probability of pension cuts increases if the situation does not improve before the end of 2016. Low interest rates and losses on stock markets in January and February were important causes of the deteriorating financial position of pension funds.

The 6M Euribor remained unchanged at -0.13%. The 10Y Swap increased with 3 basispoints to 0.67%.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: