World economy faces once again an abnormal degree of uncertainty. Consequently, we saw a beginning of a shift from bonds to equities last week. S., equity prices jumped whereas bond valuations worldwide lost close to 1 trillion euros. Anticipating this development, markets sold bonds thus leading to an increase of medium to long-term yields, steepening the yield curve, which is a positive development for financial institutions’ profitability.These movements result from the understanding that fiscal stimulus will increase growth and inflation down the road, in turn allowing a normalisation of U. This expectation was indeed reflected in their share prices amid the general increase of stock valuations last week.
Yields on bank and non-financial bonds have eased in response to the measures taken, testifying to the effectiveness of the current monetary policy.Since the projections cut-off date, the flow of short-term economic indicators has been consistent with the materialisation of this baseline scenario, and point to a continued positive contribution from domestic demand (alongside a negative contribution from net trade). online singlebörse Recklinghausen According to Eurostat’s flash estimate, real GDP increased by 0.3% in the third quarter with respect to the second quarter, (as was the case in the previous quarter).As a consequence, bank lending rates to non-financial corporations (NFCs) and households are now at historical lows, and there has been a significant reduction in the fragmentation of lending rates across euro area countries both for large and for small loans.Against this background, in the most recent ECB staff projections, real GDP is forecasted to grow at an annual rate of 1.7% in 2016 and 1.6% in 2017.
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Many commentators have hasted in concluding that the recent geo-political developments will have, after all, economic benefits.This may be the case in the short-term but the real negative effects of heightened uncertainty can come later. rise in economic growth, but in the context of an “America first” policy.The euro area recovery is continuing its moderate but steady pace, supported by the ECB’s policies. Flirten schüchterne frauen These have significantly improved financial conditions, reduced financial fragmentation and fostered economic activity and inflation.However, we already observed a slight drop in European share prices last Friday.
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