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2021/11/25 / Erste Group Research

Rising new infection rates cause uncertainty to rise

The fourth Corona wave is not leaving the credit markets unscathed. Stock market volatility and the CDS indices are once again pointing upwards.

In the coming days and weeks, we expect a volatile development of risk premiums in the corporate bond segment, which could also increase upward pressure on the weaker-rated bonds in particular.

The pandemic is also currently dampening economic expectations. A slowdown in economic growth in the last quarter of 2021 has become more likely.

The forecast for the speculative default rate in Europe remains risky as a result of the pandemic and supply chain problems.

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General information

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


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