Lower, but positive, economic growth and higher inflation is the name of the game for the euro area. The ECB delivered the expected and also the Fed should hike by 75 bp next week. In CEE, the CNB is expected to keep rates unchanged while a 25bp hike is likely in Albania.
After tomorrows RAGB auctions we expect OeBFA's 2022 funding to have been completed by about 79 %. Both bonds on the menu, 3y and 10y Austrian benchmark bonds, look attractive against peers, with the latter offering the highest spread to Bunds since 2012. |