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2022/07/06 / Erste Group Research

Energy prices fuel recession fears

The driving inflation factors remain on the table. Although oil prices have softened recently amid growing recession fears, European power and gas prices have continued to soar in recent days.

Meanwhile, verbal interventions by the ECB have provided relief on bond markets.

Corporate bonds, including especially bank senior and high-yield spreads, on the other hand, continue to suffer from recession fears.

Downside risks to current earnings estimates for companies are increasing.
The ECB remains weighty demand factor and pushes climate protection in monetary policy.

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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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