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Wie sich Spaniens und Italiens Anleihemärkte entwickeln

Von Sergio Bertoncini, Senior Fixed Income Research Specialist, Cosimo Marasciulo, Deputy Head Alpha Fixed Income Euro und Annalise Usardi, Senior Macro Strategist Cross Asset Research

(PresseBox) (München, )
In Italien wie in Spanien finden nächstes Jahr Parlamentswahlen statt, was die wirtschaftlichen Perspektiven und die politischen Entscheidungen besonders in den Fokus der Investoren rückt. Wie in der gesamten Eurozone steigt auch in Italien und Spanien das Risiko einer Stagflation. Die Wachstumsaussichten wurden aufgrund restriktiverer Finanzierungsbedingungen und einer Normalisierung der Geldpolitik sowie aufgrund der Energiekrise und Lieferkettenengpässen nach unten korrigiert. So könnte das BIP-Wachstum in Italien für 2022 nur noch 2,6 % betragen und sich 2023 auf 1 % abschwächen. In Spanien werden für 2022 immerhin noch 4,2 % erwartet. 2023 sind es dann nur noch 1,4 %. Zum Vergleich:
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