Market sentiment deteriorated further after the European Commission downgraded its Italian 2019 GDP growth estimate.
Anleger sollten die Bewertungen von Assets nicht zur Prognose von Rezessionen nutzen, sagt Jeroen Blokland, Portfoliomanager bei Robeco.
The expectation of a technical recession in Italy in H2 of 2018 was confirmed by the data. More negative news on growth was released on Friday, as the Italian January PMI came out below expectations.
The ECB is expected to announce a new round of cheap long term financing in its March meeting, following a downgraded of its growth assessment to “risks surrounding the euro area growth outlook have moved the downside”.
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The potential need for public support may represent another source of tension between the Italian government and the European Commission, after the battle on the 2019 budget in the Autumn.
Mehrere Faktoren sprechen dafür, dass die Kurse von Schwellenländer-Aktien in diesem Jahr steigen könnten, meint Jeroen Blokland, Portfoliomanager bei Robeco.
In the Central Bank Watcher, Robeco examines the policy and actions of the major central banks to see how these will affect the macro outlook and financial markets going forward. Click here to read the full report.
The steps made by the Italian government were enough to satisfy the EC to stave off an excessive deficit procedure.
Risk sentiment turned positive this week, as the Italian government lowered the fiscal deficit target and China-US trade fears subsided. In this environment peripheral bond markets rallied, with Italy outperforming strongly.