|2023/01/25 / Erste Group Research|
|Credit Markets Weekly|
Optimism in the corporate segment
The corporate segment is starting the New Year on an optimistic note. Stock indices are up, volatility at a low level, PMI and ifo have improved. This confidence is based on falling gas prices, declining inflation rates and the easing of the supply bottleneck problem.
On the secondary market, the positive sentiment is reflected in a downward trend of credit spreads, which has persisted for weeks. On the primary market, there is a high level of issuing activity, including high-yield companies. The starting 4Q 2022 reporting season and ECB's next interest rate hikes are likely to provide an indication of future developments.
Special topics of the week:
- OeKB: Indications on financial year 2022
- Issuer in focus: Hypo Tirol Bank AG
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|Author||Erste Group Research|
|Product type||weekly / bi-weekly|
|Product name||Credit News|
|Topic in focus||Credits/ Corporate bonds|
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