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The latest eurozone HICP inflation figures surprised on the upside, coming in at 9.1% in August, up from 8.9% in July, and setting a new record since the creation of the euro.
New catalysts are approaching the investors’ mind, in a circular way, with a sort of self-reinforcing scheme.
At the moment, we don’t really see political risk being taken into account by the markets. Despite the recent poor performance of Italian financial assets, the risk premium does not seem high.
They will have to decide whether the top monetary authority will continue to step up the accelerator with rate hikes, or, on the contrary, maintain a more conservative tone.
The European Central Bank, at its last meeting on the 9th of June, acknowledged that we are facing difficult months ahead.
In his new role, Christoph Thywissen is in charge of Ostrum AM’s transformation projects such as the development of new digital services for our clients.
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