Mid-Year 2021 Outlook

Covid-19 negatively impacted 2020 European growth to various degrees. Regardless of its precise speed, the 2021-22 recovery is expected to be solid. But, this strength is also raising concerns on inflation.

Despite a recent uptick in inflation, the swap market still prices central banks to keep rates low and government bond yields lower for longer as the output gap remains high.




Supporting documents

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