How to ease inflation? Non-tariff barriers to trade in the spotlight
Reducing non-tariff barriers could help the EU combat surging inflation. We find that lowering these measures to below 50% could knock -4.5pp off inflation.
High yield: have the tourists left?
The tide has turned for high yield credit. We expect spreads to remain under pressure in 2022, reaching 500bps and 525bps USD and EUR, respectively.
Eurozone: watch credit conditions!
With the ECB hiking interest rates for the first time in over 11 years, could tightening financial conditions spark a credit crunch in the Eurozone?