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Aug 30, 2022

Green infrastructure investment

The war in Ukraine underscores that scaling up investment in climate-smart infrastructure is necessary to ensure energy and food security as we transition to a lower-carbon future. 

Jul 28, 2022

How to ease inflation? Non-tariff barriers to trade in the spotlight

A stronger US dollar will not be enough to rein in inflation in the US. Even as the appreciation of the USD will reduce inflation by -1.4pp in the next three months, and the US is less exposed to surging energy prices, we still expect inflation to remain well above 2% next year.

Jul 26, 2022

High yield: have the tourists left?

Since mid-April, high yield credit has entered a new decompressing regime characterized by a structural increase in risk premium, with market participants pricing in tightening financial conditions, still elevated geopolitical risk, uncertainty around the future inflation path, a deteriorating growth outlook and increased pressures on corporate balance sheets. 

Jul 21, 2022

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? While banks are in a better condition compared to the sovereign debt crisis more than a decade ago, they have already become more risk-averse. 

Jul 20, 2022

Remote work: Is the honeymoon over?

In 2020, the pandemic made working from home the norm for millions of employees in the EU. Two years later, how do they feel about remote working? In our 2022 Allianz Pulse survey, we asked 1,000 respondents each in Germany, France and Italy about their perceptions of the benefits and challenges. 

Jul 19, 2022

The anatomy of financial bubbles, crashes & where we stand today

Some important segments of the US equity market (the NASDAQ, the NASDAQ 100, the S&P 500 home builders index) were most likely in a bubble mode in 2021; they have not yet completed a typical post-bubble correction, offering more downside than upside.

Jul 13, 2022

Back on the (climate ) track

The race to energy sovereignty sparked by Russia’s invasion of Ukraine could push Germany’s green transition well past the finish line. Despite the increased use of coal for electricity generation in the short term, the EU ETS will limit additional emissions, and coal is still on track to be phased out by 2030. 

Jul 11, 2022

Allianz Pulse 2022: United in pessimism

After three months of the Russian invasion of Ukraine, Europe’s economy is in a very unstable state, making it the right moment to check the pulse in Germany, France and Italy. In May, we at Allianz decided to interview 1,000 people in each country about their views on political and economic issues, as well as their expectations for the future. 

Jul 07, 2022

Price war for European airlines – Fasten your seatbelts

Cancelled flights could become the new normal in Europe as airlines strive to protect margins amid surging jet fuel prices. With wages accounting for 25% of revenue (vs. the global average of 19%), European airlines have little incentive to address staff shortages in the short term.

Jul 06, 2022

Breaking spread: fragmentation risk in the Eurozone

The ECB is facing a “risk trilemma” as its hawkish monetary policy pivot raises the specter of fragmentation risk, which threatens to impede the efficient transmission of monetary policy. 

604 releases in total