Why the yield curve is likely to steepen more in the euro zone than in the United States

We believe the yield curve will steepen more in the euro zone than in the United States since: The ECB will probably want to end the zero/ negative interest rate policy from 2021; Core inflation is rising slightly in the euro zone but not in the United States; There will be portfolio diversification from bonds to equities in the euro zone; this has already been done in the United States; Political stability has returned to the euro zone, leading to a decline in risk aversion; The very low euro long-term interest rates are beginning to discourage non-resident buyers of euro-denominated bonds.