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2022/07/20 / Erste Group Research
Credit Markets Weekly

Recession priced in, gas supply freeze not (yet)

Both the ECB meeting and the publication of the Eurozone purchasing managers' indices should not move the credit market significantly. The possible presentation of an ECB anti-fragmentation instrument is also unlikely to have a major impact on the credit market. Risk premiums have hardly reacted to the Italian government crisis.

High yield spreads are already pricing in a recession. They do not yet reflect a gas supply freeze by Russia. However, for long-term investors, now could be a good first entry point into the corporate bond market.

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General information

AuthorErste Group Research
Product typeweekly / bi-weekly
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Market cap-
AvailabilityAll [1]


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