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2022/06/17 / Erste Group Research

Retten Dienstleister die Konjunktur?

Nächste Woche (23. Juni) wird eine Schnellschätzung der Einkaufsmanagerindex für die Eurozone, Deutschland und Frankreich des Monats Juni veröffentlicht. Eingebettet in das aktuelle globale Umfeld erwarten wir eine weitere leichte Eintrübung des Sentiments der Einkaufsmanager im Juni. Wir gehen unverändert davon aus, dass die Stimmungslage bei den Dienstleistern besser sein sollte als in der Industrie.

Nachdem es zuvor nach einer Stabilisierung ausgesehen hatte, ist es seit Anfang Juni zu einem abermaligen massiven Abverkauf an den Anleihenmärkten sowohl in der Eurozone als auch den USA gekommen. In Summe stiegen die 10-jährigen Renditen von deutsche Bundesanleihen und US-Treasuries innerhalb von gut zwei Wochen um 50 bzw. 30 Basispunkte (Bp). Die höheren Inflationswerte, die resultierenden Kursverschärfungen der Notenbanken und die Reaktion der Märkte ändern den Ausblick. Damit müssen wir unsere Renditeprognosen anheben.

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General information

AuthorErste Group Research
Product nameWochenausblick
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


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