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2021/09/02 / Erste Group Research

Continued sunshine with scattered patches of clouds

The data looks good and suggests a continuation of the economic recovery in the eurozone, albeit with momentum flattening slightly. Economic indicators were slightly weaker in August than previously, but remained on strong levels. Risks could derive from the spread of the delta variant. Currently, we do not expect any further lockdowns, but we do anticipate tighter restrictions. This time the decisive factor will not only be new infections, but also ICU occupancy rates.

Elevated inflation level should only be temporary. We expect a gradual decline from 2022.

Fed and ECB discuss the tapering of their asset purchases.

In view of predominantly positive sentiment, credit spreads are showing a tightening trend and primary markets are quite active.
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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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