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2022/11/23 / Erste Group Research

Companies brave challenging environment

The flash estimate of the Eurozone Purchasing Managers' Index for November for the manufacturing sector published today showed a slight improvement compared to the previous month, contrary to consensus expectations.

The corporate segment is defying the adverse circumstances and has been demonstrating resilience for weeks. Risk premiums have gradually tightened since mid-October, the third quarter reporting season was much better than expected, and Moody's projected default rates for the European speculative-grade sector are expected to rise only slightly. Even primary market activity, which has been very sluggish this year, has been at elevated levels in recent weeks.

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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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