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The European bond markets responded to the spread of the new Omicron variant with a flattening of the yield curve. Under these conditions, European corporate bonds saw narrowing spreads and rising prices. Low ratings again profited disproportionately.
The strategic orientation has not been changed. There were no significant changes in the portfolio.
The ECB is expected to take monetary policy normalisation steps in light of the current growth and inflation trends. Corporate bonds are profiting from a positive rating trend and low default rates. (17.12.2021)
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The content of the website is solely intended for investors with sufficient knowledge and experience to make their own investment decisions and to properly assess the associated risks; in other words, for professional clients as defined in the Austrian Securities Supervision Act 2018 (Wertpapieraufsichtsgesetz - WAG 2018). We will be happy to provide further information to customers who do not possess this knowledge and experience.
The contents of this web page are solely intended for persons who reside in Austria or who access the web page in Austria.
The investment funds described on this web page have not been registered according to the pertinent legal regulations in the USA. For this reason, units in these funds may not be sold in the USA or to any US citizens, long-term US residents, or business partnerships or corporations established under the laws of the USA.