Report
The steepening of the yield curve in the euro zone is likely to push investors into risky assets
The risk-free yield curve in the euro zone is likely to steepen under the effect of: The improvement in the cyclical situation and the decline in risk aversion; The prospect, albeit distant, of the ECB exiting its zero interest rate policy; A more expansionary fiscal policy and a reduction in the savings surplus. This can be expected to lead investors to: Expect a long period of negative returns on government bond portfolios; Therefore switch into other, riskier asset classes (equities, real estate, High Yield bonds), which will be positive for these asset classes.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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