05
Apr
Acceleration in the Eurozone propped up by Germany and France
Growth is accelerating in the Eurozone. The ECB will soon be in tapering mode. Negative real terms interest rates. Asset reallocation favors equities and real estate.
Key points
- The economic dynamic in the Eurozone picked up the pace in the 1st quarter
- GDP could hit +0.6%
- Change in perception of growth prospects in the Eurozone
- No fiscal stimulus without Germany?
- Could the Eurozone benefit from Germany’s foreign surplus?
- The return to inflation is pushing real rates into negative ground
- Political risks are evaporating
- Confidence is making a come-back
- The ECB will soon be in tapering mode
- The upward trend on long rates should recover in the second quarter
- In portfolios, the great shift from bonds towards European equities can take place
