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2024/03/20 / Erste Group Research

Is the positive mood changing?

Monetary policy and sentiment indicators remain in focus this week. Sentiment remains fundamentally positive, driven by the expected easing of monetary policy.

In the first flash estimate of eurozone business sentiment and the German ifo index, the consensus expects slight improvements in March.

We are of the opinion that the rally in the high yield segment is exaggerated due to possible ECB interest rate cuts and therefore harbors potential for disappointment. In our opinion, the spread tightening in the HY segment is likely to lose momentum.

Special topics of the week:
Issuer in Focus: HYPO NOE

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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-