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2021/10/28 / Erste Group Research

The sentiment seems worse than the situation itself

Companies affected by high energy, freight, and commodity prices have mostly been reporting high demand and full order books. Due to bottlenecks in materials and logistic capacities, company deliveries are currently often subject to time lags. This pushes back the point in time when sales are recognised in the books. So far, there do not seem to be any cancelled sales though. Service providers are increasingly grappling with staff shortages, wage pressure, and rising COVID-19 new infection rates. The good start into the Q3 reporting season and the reports on coupon payments by Evergrande support the investors’ risk appetite. In the high yield segment, spreads have remained stable.

We do not envisage any inputs for the credit market from the coming ECB meeting this time.


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General information

AuthorErste Group Research
Date2021/10/28
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria, Eurozone
Currency in focusEuro
Sector in focus-
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