NN IP: Gute Gründe für die EZB, von ihrem Kurs nicht abzuweichen
Die Fed hat wie erwartet die Zinsen angehoben. Wir erwarten nach wie vor insgesamt drei Zinsschritte in diesem Jahr. Nun ist die EZB gefragt, zu erklären, wie sie über das Jahr 2017 hinaus agieren will.17.03.2017 | 09:40 Uhr
Economic Outlook: Strong economic rationale for continued ECB easing
As expected, the Fed hiked rates again yesterday and we continue to expect a total of three hikes this year. For the ECB, the next big step will be the need to formulate the QE forward guidance beyond December 2017. We believe the ECB should refrain from tapering until well into 2018. Read more...
Equity Strategy: European elections could turn around regional underperformance
The Eurozone election cycle kicked off in earnest yesterday. Barring the most negative outcomes in the rest of the cycle, this could be the start of Eurozone equities outperformance over US equities. We cut our commodity exposure following the drop in oil. Read more...
Fixed Income: Political risks for Eurozone have diminished and look discounted
We upgraded Eurozone Peripherals to neutral, as political risks diminished in February and seem discounted. The Fed’s hiking path should not derail spread products, given the better macroeconomic outlook. Read more...