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Another key responsibility is to provide aligned customer services (issuers, investors) for primary and secondary markets. <\/p><\/li><\/ul>
- The main economic risks are a slow recovery amid a raging pandemic and, in Turkey, a forced adjustment of the economy.<\/p><\/li><\/ul>
- Elections in Bulgaria and Czechia are highly uncertain due to the incumbent administrations\u2019 handling of the pandemic. e2fda6f48f4beb7f2e9a16bde35b727c4d7cd8e0d73c422d49e7378ade652268;;[{"layout":"linklist","uid":25302,"publicationDate":"16 May 12:21","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- The big jump in US inflation for April: <\/strong> I\u00b4ll argue that it\u00b4s \"noise\" and that you can safely look through it, as indeed key policymakers have made clear they will. All too long The serpent’s evil Malice has beguiled me; False sensuousness, Vain loving Has utterly turned me away from God. Last year\u2019s economic losses could be recovered this year in Hungary, Poland and Romania and the next year elsewhere. In addition to differences in term premium and liquidity conditions, the 30\/50Y spread on both curves is affected by yield volatility and differences in bond convexity.<\/li><\/ul>
- We like a 30\/50Y flattener on the BTP curve, especially after recent steepening, as it represents a defensive trade if selling pressure on BTPs resurface. The central banks need to keep their cool.<\/p><\/li><\/ul>
- The big moves in Bitcoin and other crypto-currencies this past week on the back of Elon Musk\u00b4s statements, as well as the news of prominent hedge fund backing for a new crypto-asset exchange. 3 Monate lesen und 2 Prämien erhalten! <\/li>
- The Suez Canal represents a key point but not the most vital oil<\/li><\/ul>"}], 842b92c566124c1353404e156278101e293f1edf508d91151185f1451b8784c9;;{"Message":" "}, 5a46a2c43e8e161ff27c8db9247c563174973a5631ee155242991b73f3c4a1ec;;{"Message":" "}, a4cdae097062004f4cf519496761beb23ec0de3a6728b0ab26a7d15635102a0a;;[{"layout":"linklist","uid":24513,"publicationDate":"09 Feb 9:09","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2021_179186.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVCsY1pNwWYpSJTSghNhr0dG4SAep3M0SAg==&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Rates Perspectives - Trading on the edge: 30\/50Y BTP flattener as a hedge against volatility","product":"Rates Perspectives","synopsis":"
- Eurozone issuers are taking advantage of the low-yield environment and are increasing their issuance activity at the extra-long end. In our view, considering the fact that the definition of NZEB is different in each EU country and the market share of NZEBs in the EU is on average quite small, this overall approach seems misguided.<\/p><\/li><\/ul>
- Renovation: <\/strong> A renovation must either be a major renovation, or one that leads to at least a 30% reduction of the PED of a building. To direct or propel (an object, such as a ball) toward a point: aimed the pass at a wide receiver; aimed the shot at the lower right corner of the goal. Net M\/L issuance will likely be particularly heavy in 1Q21, due to front-loading and low redemptions.<\/li><\/ul>
- However, heavy market funding will not be a key driver of yields, as the ECB will remain extremely active with asset purchases, as in 2020. l go to last reply. LibriVox is a hope, an experiment, and a question: can the net harness a bunch of volunteers to help bring books in the … p toggle public/private. Amazon Music Stream millions of songs: Amazon Advertising Find, attract, and engage customers: Amazon Drive Cloud storage from Amazon: 6pm Score deals on fashion brands bab.la arrow_drop_down. With few exceptions, fiscal impulses are likely to be negative in 2021-22.<\/p><\/li><\/ul>
- CEE benefits from larger stable capital flows than other EM. This is NOT the English lyrics. Depending on the building and conditions in the EU member states, an extensive renovation can reduce the PED of a building by 50-80%.<\/p><\/li><\/ul>
- Acquisition and ownership: <\/strong> Buildings built before 31 December 2020 must have a class A Energy Performance Certificate, or be within the top 15% of the national or regional building stock. While the ECB indications from the March meeting are subjective, we would be surprised if 'significant increase' was meant to be less than a 20-25% boost in purchases. With more than 50 analysts, UniCredit Research provides high-quality macroeconomic and financial market analysis to support clients in the development of investment plans, strategic and tactical asset allocation of financial investments, security selection and risk management. Look up the German to Spanish translation of Rette mich in the PONS online dictionary. We expect supply pressure to remain sizeable at the extra-long maturities. Your date of birth is required for the approval process and will only be used for verification purposes. [A F# C#m G#m B C# F#m E] Chords for Oomph! Economics Chartbook - The US leads the way to a brighter outlook (2Q21). To direct (a weapon or camera) toward a point. Retail sales are only a subset of total personal consumption, but it seems highly likely that a sizeable proportion of the stimulus checks were not spent, at least not immediately.<\/li><\/ul>"},{"layout":"linklist","uid":25023,"publicationDate":"11 Apr 12:10","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- The global recovery: <\/strong> Under way but unevenly so.<\/p><\/li><\/ul>
- The appropriate vs. likely policy responses, and \u2026<\/p><\/li><\/ul>
- \u2026the signs of trouble at the ECB.<\/p><\/li><\/ul>"},{"layout":"linklist","uid":25001,"publicationDate":"08 Apr 9:26","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179774.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbHsMztX-hzyE=&&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - Global minimum corporate tax and its varying impact on EU countries","product":"Chart of the Week","synopsis":"
- In his recent presentation of the more than USD 2tn infrastructure package, US President Biden proposed the introduction of a 21% global minimum tax for multinational corporations. If so, this is a signal of immense importance as it threatens the very foundation of US democracy.<\/p><\/li><\/ul>","hash":"e2fda6f48f4beb7f2e9a16bde35b727c4d7cd8e0d73c422d49e7378ade652268","available":"0","settings":{"layout":"linklist","size":"default","showanalysts":"0","showcompanies":"0","showcountries":"0","showcurrencies":"0","synopsislength":"-1","synopsisexpand":"0","nodate":"0","nolinktitle":"0","notitle":"0","dateformat":"d M G:i","noproduct":"0","noflags":"0","shownav":"0","oldestedition":"","limit":"12"}},{"layout":"linklist","uid":25301,"publicationDate":"14 May 14:38","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180145.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIikWNKbmqLBaw=&T=1&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - US inflation: Don`t be fooled by outliers","product":"Chart of the Week","synopsis":"
- US CPI rose 0.8% mom in April, the largest monthly rise since 2009, while core CPI (which excludes the volatile food and energy components) rose 0.9% mom, the most since 1982. Italy could join them in the coming months.<\/li><\/ul>
- We look at the main factors driving the 30\/50Y spread on both the BTP and the OAT curve. ich rette dich translation in German - English Reverso dictionary, see also 'Retter',retten',Retorte',Retterin', examples, definition, conjugation Best friends. Tokio Hotel is a German rock band, founded in 2001 by singer Bill Kaulitz, guitarist Tom Kaulitz, drummer Gustav Schäfer, and bassist Georg Listing. Unsere neue Verlinkungsfunktionalität erkennt diese juristischen Dokumente im Text und verlinkt direkt zu diesen Dokumenten. Play song with guitar, piano, bass, ukulele. Mit dem Begriff "Entrückung" wird ein in der Bibel beschriebenes Phänomen bezeichnet, bei dem einzelne Personen von Gott aus dieser physischen Welt lebendig emporgehoben (entrückt) und in die geistige Dimension Gottes oder an einen anderen Ort auf der Erde gebracht werden. 2. For some items (such as airfares and lodging away from home) prices are still well below pre-pandemic levels, while for others (such as used cars and car rental) they are well above. Registrieren Sie sich und bieten Sie mit. Hauskauf Franken - Alle Angebote für Häuser zum Kauf in der Region hier finden - immo.inFranken.de. We would like to show you a description here but the site won’t allow us. Governments will have to implement the right policies to facilitate the reallocation of labor towards the most promising sectors.<\/li><\/ul>"},{"layout":"linklist","uid":25191,"publicationDate":"02 May 10:54","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- I\u2019ll first reflect on what the path through 2021 may look like in terms of growth and markets in the US and Europe.<\/li><\/ul>
- I\u2019ll then compare and contrast the US\u2019 USD 4 trillion longer-term investment plans with Europe\u2019s EUR 750bn NGEU (they are more alike than you think) and draw conclusions for European fiscal policy rules.<\/li><\/ul>
- Third, I\u2019ll appeal for full and constructive engagement on the three most important policies of common interest issues, namely climate change, corporate taxation and social platform responsibility.<\/li><\/ul>
- Finally, I\u2019ll summarise what I think this all means for the future economic structure, and specifically the relative attractiveness of sector developments.<\/li><\/ul>"},{"layout":"linklist","uid":25127,"publicationDate":"25 Apr 12:16","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- This past week\u00b4s German politics and what it\u00b4s likely to mean for Europe.<\/p><\/li><\/ul>
- The Constitutional Court green light - but what\u00b4s next'<\/p><\/li><\/ul>"},{"layout":"linklist","uid":25099,"publicationDate":"21 Apr 9:54","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179898.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZABSRQdl7goY=&T=1&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - PEPP net vs. gross purchases: The case for better communication","product":"Chart of the Week","synopsis":"
- The most frequent discussions so far this year with clients have been on the extent of ECB support and PEPP details (how long, how much, how flexible), a topic that has intensified after the March central bank meeting\u00b4s promise of 'significantly' more purchases. France and Belgium have recently issued new 50Y bonds, while Spain is expected to sell a new 50Y SPGB today. ctrl + s submit form. Mit der Verbreitung von E-Book-Readern werden E-Books zunehmend in einem Format angeboten, … We expect this encouraging trend to continue during the year.<\/li>
- Foreign issuers have returned to the SSD market. Indeed, we expect the ECB to purchase an amount similar to the entire new net issuance in 2021.<\/li><\/ul>"}], eada0c4ea76c629eb47a2c699db2ed6e715070a11680a5d9921f837e1ffd3a5f;;[{"layout":"linklist","uid":24050,"publicationDate":"03 Dec 14:06","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_178685.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2npiIhNkXBBHa2N8hoO2XWEw==&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_178812.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2n65M1ZiLkezQQ5vDJdlNayQ==&T=1&T=1","protectedFileLinkIt":""},"title":"Shortened version of the Euro Credit Pilot (December 2020)","product":"Euro Credit Pilot - Strategy","synopsis":"
This is a shortened version of the Euro Credit Pilot, which we deem to be an acceptable minor non-monetary benefit under MiFID II.<\/p><\/p>
The COVID-19 pandemic has created unprecedented uncertainty in the global economic outlook, implying low visibility into the future. The album was only released in Germany, Italy, France, Canada, and Japan. If the ECB lengthens the maturity of its portfolio via reinvestments, communicating this clearly to markets would increase its effectiveness. Also, our understanding is that it referred to net purchases.<\/li>
- However, while net purchases were rather low, gross purchases, published yesterday, were very high at EUR 28bn. We provide high-quality analysis through a strong and diversified publication range and products tailored to the needs of our clients. Once demand for badly hit services resumes, and there are signs that this recovery has already begun, firms will start hiring again and employment growth in these sectors is likely to outpace that of the broader economy, mainly benefitting young workers.<\/li>
- Still, not all lost jobs will be recovered, as the pandemic has structurally affected demand for certain categories of goods and services. 32,00 € Feuerzeug Clipper schwarz We would like to show you a description here but the site won’t allow us. <\/li>
- Bank lending: <\/strong> The recent results of the ECB\u00b4s 1Q21 lending survey showed a slight tightening of lending standards to businesses in 1Q21. - Yalp <\/li><\/ul>
- The strong secondary-market performance of the EU SURE transactions was spread-supportive for other European supranationals. Second, the reopening of the economy has boosted hotel prices and airfares amid supply constraints and pent-up demand. Alle Jobs und Stellenangebote in Bamberg, Bayreuth, Coburg und der Umgebung. open_in_new Link to source In our view, a 30% reduction of the PED is easier to achieve than meeting the conditions for a major renovation. Continuing browsing you consent to the use of all cookies. Java script disabled. This should allow activity to rebound swiftly as restrictions are eased. We therefore urge you to pay close attention to the messages you receive and for anything suspicious please report immediately to UniCredit support available at +49 89 55 87 72 111 If you receive this type of communication and open it by mistake, do not download attached files, do not click on the links inside and do not enter any credentials. with English translation. The time is ripe for a similar disclosure also with respect to PEPP redemptions, especially if the difference between net and gross purchases carries any relevance. Although the ECB insists on not focusing on the weekly data, these updates, out every Monday at 15:45 CET, have indeed become a fixed appointment for investors. This website uses profiling cookies, possibly also those of third parties. While these effects should prove temporary as supply adjusts to meet demand (the fiscal stimulus is a one-off and pent-up demand should ease later in the year), the supply-demand imbalances could persist for a few months and uncertainty remains very high. Please enter your date of birth below to continue. The Strategy Research team provides our clients with insights into all major asset markets, as well as investment strategies. Moreover, job losses have mainly occurred in low-productivity, low-skill service activities, where the scope for deterioration of physical and human capital is relatively contained. EU transfers in EU-CEE and the western Balkans will ensure positive extended basic balances in all countries but Romania. Despite representing less than 10% of total employment, we estimate that these workers accounted for almost a third of the total job losses recorded last year. German translation of lyrics for Save Me by XXXTENTACION. Our key areas of focus are European FX, FI, credit and equity markets. If not, the ECB should explain why net purchases remain so low compared to 1Q, and clarify whether they plan to implement the promised increase via gross or net purchases.<\/li><\/ul>"},{"layout":"linklist","uid":25067,"publicationDate":"18 Apr 10:27","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- What the IMF is recommending on fiscal policy ' and the likely European responses.<\/li>
- What the IMF is recommending on monetary policy ' and the likely ECB response.<\/li>
- How President Biden\u00b4s proposed minimum global corporate tax rate may help finally address the single most distortive fiscal issue in the eurozone.<\/p><\/li><\/ul>"},{"layout":"linklist","uid":25064,"publicationDate":"16 Apr 10:56","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179860.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZTB8NEuwFXKM=&T=1&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - Huge excess savings, but for different reasons","product":"Chart of the Week","synopsis":"
- Our Chart of the Week shows the huge excess savings balances that households in the US and Europe have accumulated during the pandemic. The comparison with previous crises suggests that the latter factor is likely to have played the most important role. Your name and the email address of your Legal Guardian are required for the approval process and will only be used by WEBTOON for verification purposes. Moreover, and contrary to popular belief, the pandemic has not had a worse effect on female employment. Look up the English to German translation of rette in the PONS online dictionary. <\/li>
- An important question is whether the volatile CPI components are signal or noise. Our Chart of the Week shows that April\u00b4s rise in inflation was driven by outliers, as shown by the relatively small rise in the Cleveland Fed\u00b4s median CPI and the trimmed-mean CPI, which remove the effects of large and small price changes of the components in the CPI.1 Indeed, most of the monthly move in headline CPI was due to just four components: used cars and trucks, lodging away from home, airfares and car and truck rental. Discussing the relevance of gross versus net purchases becomes trickier.<\/li>
- More transparency regarding this program would help a great deal. Jetzt 3 Monate lesen und 2 Prämien erhalten! <\/p><\/li><\/ul>
- A move to looser monetary policy could widen macroeconomic imbalances in Turkey, forcing an adjustment of the C\/A and affecting the exchange rate, inflation and growth. English translation of lyrics: Lord, save my soul from him who would cause me to miss the goal And would stop me from seeing Your light clearly Oh, Lord, please, save me from myself. In the US, where the rise in savings is due mostly to the rise in household disposable income from (one-off) government transfers, we could see a gradual run-down of excess savings over several years, consistent with low estimates of the so-called wealth effect (i.e. Revenue from commodity exports will boost reserves in Russia. But this noise will continue for some months, and could get worse before it gets better. b. <\/p><\/li><\/ul>
- Households and companies are both in a good position to start spending once restrictions are eased. 1zahnimplantate.de ist auch darauf spezialisiert, eine angemessene Beratung, Bewertung und Platzierung von Zahnimplantaten bei unseren Mund-, Kiefer- und Gesichtschirurgen anzubieten, die getestet und vertrauenswürdig sind.. Ohne längere Wartezeiten können Sie nach Rücksprache mit unseren Mund-, Kiefer- und … Wir haben sehr interessante Fahrzeugauktionen, die auf Sie warten! 1,199 Followers, 294 Following, 11 Posts - See Instagram photos and videos from abdou now online (@abdoualittlebit) Auf der regionalen Jobbörse von inFranken finden Sie alle Stellenangebote in Bamberg und Umgebung | Suchen - Finden - Bewerben und dem Traumjob in Bamberg ein Stück näher kommen mit jobs.infranken.de! Composer. 1. a. About the headline (FAQ). In this context, we lower our recommendation on Automobiles & Parts to underweight from marketweight. This would happen, for example, as the ECB runs off its portfolio of commercial paper, which was almost EUR 13bn at the end of March. In our base scenario, while the macro picture might be uncertain, particularly at the beginning of 2021, we expect, however, the credit market to see another strong year, supported by an economic rebound from 2Q and technical factors.<\/p><\/p>","hash":"eada0c4ea76c629eb47a2c699db2ed6e715070a11680a5d9921f837e1ffd3a5f","available":"0","settings":{"layout":"linklist","size":"default","showanalysts":"-1","showcompanies":"-1","synopsislength":"-1","showcountries":"-1","showcurrencies":"-1","synopsisexpand":"0","nodate":"0","notitle":"0","dateformat":"d M G:i","nolinktitle":"0","noproduct":"0","noflags":"0","shownav":"0","oldestedition":"","limit":"2"}},{"layout":"linklist","uid":21554,"publicationDate":"14 Feb 15:36","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_175974.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2nw6n3SIBxpGTmDpAUviCpvg==&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_176061.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2nNTt7vdgznH-Jqun0zij8HQ==&T=1&T=1","protectedFileLinkIt":""},"title":"Shortened version of the Euro Credit Pilot (February 2020)","product":"Euro Credit Pilot - Strategy","synopsis":"
This is a shortened version of the Euro Credit Pilot, which we deem to be an acceptable minor non-monetary benefit under MiFID II.<\/p><\/p>
- Introduction: <\/strong> The outbreak of the coronavirus has already led to the disruption of global supply chains, with numerous producers across sectors reporting production halts at facilities in China. English The battle is over and you have lost You have hurt me badly September 2014. by Bible or other Sacred Texts, "Libera me" [author's text checked 1 time against a primary source]; Musical settings (art songs, Lieder, mélodies, (etc. Alle angebotenen Fahrzeuge verfügen über eine detaillierte Zustandsbeschreibung und aussagekräftige Bilder. The Credit Research team provides bottom-up coverage of European corporates and financials and of selected non-European issuers, including major developments across all sectors. c toggle close/open. Access to the UniCredit Research Portal is for institutional investors, other eligible counterparts and professionals only. Note: for all you people saying "rette" is "rescue me" and not "save me", it doesn't matter. We will eventually get an indication by looking at the data on the weighted average maturity (WAM) of the PEPP portfolio, but the data are only published every other month, and the next release will be in June. We expect an overall cash deficit of EUR 835bn, only moderately lower than in 2020.<\/li><\/ul>
- We expect the use of funds from the EU (under either the SURE or the NGEU) to mitigate only moderately intense issuance activity in the primary market by around EUR 85\/90bn.<\/li><\/ul>
- T-bill issuance is expected to be much less heavy than in 2020: we pencil in around EUR 80bn of net T-bill supply in 2021, down from EUR 255bn in 2020.<\/li><\/ul>
- This will leave M\/L domestic bond issuance to represent the lion\u2019s share of funding sources. Vaccination is not enough to avoid future lockdowns, with governments having to test, track and trace more than they do at the moment. Excess savings last year (measured as the cumulative sum of savings over and above the 2018-19 average) range from 8% of GDP in the US and 7% in the UK, to 4% in the eurozone and 3% in Germany. Auf diesen Seiten finden sich alle Informationen zum Hauptstadtclub - Profis, Nachwuchs, eSport, soziales Engagement und vieles mehr! Please find here (login required) the link to the third UniCredit Research Teach-In, a new series of brief videos (ca 15 min) in which we address one of the key topics we hear from clients and colleagues. Resilience to the shock seems to increase with the age of workers. I interpret the GOP\u00b4s alignment with Trump\u00b4s claim that the election was stolen, in spite of the court rulings to the contrary, as the party\u00b4s willingness to undercut the judiciary branch of government. t open translation selector. In recent months, they have caused some puzzlement by showing a divergence between ECB action and its rhetoric.<\/li>
- This Monday was no exception: <\/strong> net purchases under the PEPP that settled in the period 12-16 April, the second full week of 2Q, were EUR 16.3bn, lower than in the previous week (EUR 17.1bn) and only 10% up from the average in 1Q (EUR 15bn). Translation of 'Rette mich' by Tokio Hotel from German to Greek Deutsch English Español Français Hungarian Italiano Nederlands Polski Português (Brasil) Română Svenska Türkçe Ελληνικά Български Русский Српски العربية فارسی 日本語 한국어 But 1Q growth-related data will be negative.<\/p><\/li><\/ul>
- Micro Fundamentals: <\/strong> Sluggish earnings growth in Europe will negatively impact companies\u2019 credit fundamentals.<\/p><\/li><\/ul>
- Credit Quality Trend: <\/strong> The global economic outlook has become clouded, and the risk of economic slowdown in China due to the coronavirus has increased. Free shipping for many products! The amount of medium-term and long-term (M\/L) bond issuance (all instruments) in 2021 might be around EUR 345bn, which is roughly in line with that of 2020. Buch Marek Mintal: Wie Fußball Menschen berührt. Here are the lyrics to Weg Von Dir. The most interesting result is the disproportionally large hit suffered by young workers (here defined as workers aged 15-24), for which employment declined by more than 6%. One of my favorite slow songs from LaFee. Translation … More meanings for Rette mich. rescue me: Rette mich: Find more words! Find many great new & used options and get the best deals for 1390 Medieval Silver Denar King Sigismund Zsigmond Hungary Rare Scarce Coin at the best online prices at eBay!
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- Credit Quality Trend: <\/strong> The global economic outlook has become clouded, and the risk of economic slowdown in China due to the coronavirus has increased. Free shipping for many products! The amount of medium-term and long-term (M\/L) bond issuance (all instruments) in 2021 might be around EUR 345bn, which is roughly in line with that of 2020. Buch Marek Mintal: Wie Fußball Menschen berührt. Here are the lyrics to Weg Von Dir. The most interesting result is the disproportionally large hit suffered by young workers (here defined as workers aged 15-24), for which employment declined by more than 6%. One of my favorite slow songs from LaFee. Translation … More meanings for Rette mich. rescue me: Rette mich: Find more words! Find many great new & used options and get the best deals for 1390 Medieval Silver Denar King Sigismund Zsigmond Hungary Rare Scarce Coin at the best online prices at eBay!
- Micro Fundamentals: <\/strong> Sluggish earnings growth in Europe will negatively impact companies\u2019 credit fundamentals.<\/p><\/li><\/ul>
- T-bill issuance is expected to be much less heavy than in 2020: we pencil in around EUR 80bn of net T-bill supply in 2021, down from EUR 255bn in 2020.<\/li><\/ul>
- We expect the use of funds from the EU (under either the SURE or the NGEU) to mitigate only moderately intense issuance activity in the primary market by around EUR 85\/90bn.<\/li><\/ul>
- Introduction: <\/strong> The outbreak of the coronavirus has already led to the disruption of global supply chains, with numerous producers across sectors reporting production halts at facilities in China. English The battle is over and you have lost You have hurt me badly September 2014. by Bible or other Sacred Texts, "Libera me" [author's text checked 1 time against a primary source]; Musical settings (art songs, Lieder, mélodies, (etc. Alle angebotenen Fahrzeuge verfügen über eine detaillierte Zustandsbeschreibung und aussagekräftige Bilder. The Credit Research team provides bottom-up coverage of European corporates and financials and of selected non-European issuers, including major developments across all sectors. c toggle close/open. Access to the UniCredit Research Portal is for institutional investors, other eligible counterparts and professionals only. Note: for all you people saying "rette" is "rescue me" and not "save me", it doesn't matter. We will eventually get an indication by looking at the data on the weighted average maturity (WAM) of the PEPP portfolio, but the data are only published every other month, and the next release will be in June. We expect an overall cash deficit of EUR 835bn, only moderately lower than in 2020.<\/li><\/ul>
- Households and companies are both in a good position to start spending once restrictions are eased. 1zahnimplantate.de ist auch darauf spezialisiert, eine angemessene Beratung, Bewertung und Platzierung von Zahnimplantaten bei unseren Mund-, Kiefer- und Gesichtschirurgen anzubieten, die getestet und vertrauenswürdig sind.. Ohne längere Wartezeiten können Sie nach Rücksprache mit unseren Mund-, Kiefer- und … Wir haben sehr interessante Fahrzeugauktionen, die auf Sie warten! 1,199 Followers, 294 Following, 11 Posts - See Instagram photos and videos from abdou now online (@abdoualittlebit) Auf der regionalen Jobbörse von inFranken finden Sie alle Stellenangebote in Bamberg und Umgebung | Suchen - Finden - Bewerben und dem Traumjob in Bamberg ein Stück näher kommen mit jobs.infranken.de! Composer. 1. a. About the headline (FAQ). In this context, we lower our recommendation on Automobiles & Parts to underweight from marketweight. This would happen, for example, as the ECB runs off its portfolio of commercial paper, which was almost EUR 13bn at the end of March. In our base scenario, while the macro picture might be uncertain, particularly at the beginning of 2021, we expect, however, the credit market to see another strong year, supported by an economic rebound from 2Q and technical factors.<\/p><\/p>","hash":"eada0c4ea76c629eb47a2c699db2ed6e715070a11680a5d9921f837e1ffd3a5f","available":"0","settings":{"layout":"linklist","size":"default","showanalysts":"-1","showcompanies":"-1","synopsislength":"-1","showcountries":"-1","showcurrencies":"-1","synopsisexpand":"0","nodate":"0","notitle":"0","dateformat":"d M G:i","nolinktitle":"0","noproduct":"0","noflags":"0","shownav":"0","oldestedition":"","limit":"2"}},{"layout":"linklist","uid":21554,"publicationDate":"14 Feb 15:36","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_175974.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2nw6n3SIBxpGTmDpAUviCpvg==&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_176061.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2nNTt7vdgznH-Jqun0zij8HQ==&T=1&T=1","protectedFileLinkIt":""},"title":"Shortened version of the Euro Credit Pilot (February 2020)","product":"Euro Credit Pilot - Strategy","synopsis":"
- A move to looser monetary policy could widen macroeconomic imbalances in Turkey, forcing an adjustment of the C\/A and affecting the exchange rate, inflation and growth. English translation of lyrics: Lord, save my soul from him who would cause me to miss the goal And would stop me from seeing Your light clearly Oh, Lord, please, save me from myself. In the US, where the rise in savings is due mostly to the rise in household disposable income from (one-off) government transfers, we could see a gradual run-down of excess savings over several years, consistent with low estimates of the so-called wealth effect (i.e. Revenue from commodity exports will boost reserves in Russia. But this noise will continue for some months, and could get worse before it gets better. b. <\/p><\/li><\/ul>
- The strong secondary-market performance of the EU SURE transactions was spread-supportive for other European supranationals. Second, the reopening of the economy has boosted hotel prices and airfares amid supply constraints and pent-up demand. Alle Jobs und Stellenangebote in Bamberg, Bayreuth, Coburg und der Umgebung. open_in_new Link to source In our view, a 30% reduction of the PED is easier to achieve than meeting the conditions for a major renovation. Continuing browsing you consent to the use of all cookies. Java script disabled. This should allow activity to rebound swiftly as restrictions are eased. We therefore urge you to pay close attention to the messages you receive and for anything suspicious please report immediately to UniCredit support available at +49 89 55 87 72 111 If you receive this type of communication and open it by mistake, do not download attached files, do not click on the links inside and do not enter any credentials. with English translation. The time is ripe for a similar disclosure also with respect to PEPP redemptions, especially if the difference between net and gross purchases carries any relevance. Although the ECB insists on not focusing on the weekly data, these updates, out every Monday at 15:45 CET, have indeed become a fixed appointment for investors. This website uses profiling cookies, possibly also those of third parties. While these effects should prove temporary as supply adjusts to meet demand (the fiscal stimulus is a one-off and pent-up demand should ease later in the year), the supply-demand imbalances could persist for a few months and uncertainty remains very high. Please enter your date of birth below to continue. The Strategy Research team provides our clients with insights into all major asset markets, as well as investment strategies. Moreover, job losses have mainly occurred in low-productivity, low-skill service activities, where the scope for deterioration of physical and human capital is relatively contained. EU transfers in EU-CEE and the western Balkans will ensure positive extended basic balances in all countries but Romania. Despite representing less than 10% of total employment, we estimate that these workers accounted for almost a third of the total job losses recorded last year. German translation of lyrics for Save Me by XXXTENTACION. Our key areas of focus are European FX, FI, credit and equity markets. If not, the ECB should explain why net purchases remain so low compared to 1Q, and clarify whether they plan to implement the promised increase via gross or net purchases.<\/li><\/ul>"},{"layout":"linklist","uid":25067,"publicationDate":"18 Apr 10:27","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179863.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZFQHuV96Kpp0=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- The Constitutional Court green light - but what\u00b4s next'<\/p><\/li><\/ul>"},{"layout":"linklist","uid":25099,"publicationDate":"21 Apr 9:54","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179898.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJCKvu3QaMkeZABSRQdl7goY=&T=1&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - PEPP net vs. gross purchases: The case for better communication","product":"Chart of the Week","synopsis":"
- This past week\u00b4s German politics and what it\u00b4s likely to mean for Europe.<\/p><\/li><\/ul>
- Finally, I\u2019ll summarise what I think this all means for the future economic structure, and specifically the relative attractiveness of sector developments.<\/li><\/ul>"},{"layout":"linklist","uid":25127,"publicationDate":"25 Apr 12:16","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179934.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJKd3EKl7RKJQ9TXPPgntxhU=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- Third, I\u2019ll appeal for full and constructive engagement on the three most important policies of common interest issues, namely climate change, corporate taxation and social platform responsibility.<\/li><\/ul>
- I\u2019ll then compare and contrast the US\u2019 USD 4 trillion longer-term investment plans with Europe\u2019s EUR 750bn NGEU (they are more alike than you think) and draw conclusions for European fiscal policy rules.<\/li><\/ul>
- I\u2019ll first reflect on what the path through 2021 may look like in terms of growth and markets in the US and Europe.<\/li><\/ul>
- We look at the main factors driving the 30\/50Y spread on both the BTP and the OAT curve. ich rette dich translation in German - English Reverso dictionary, see also 'Retter',retten',Retorte',Retterin', examples, definition, conjugation Best friends. Tokio Hotel is a German rock band, founded in 2001 by singer Bill Kaulitz, guitarist Tom Kaulitz, drummer Gustav Schäfer, and bassist Georg Listing. Unsere neue Verlinkungsfunktionalität erkennt diese juristischen Dokumente im Text und verlinkt direkt zu diesen Dokumenten. Play song with guitar, piano, bass, ukulele. Mit dem Begriff "Entrückung" wird ein in der Bibel beschriebenes Phänomen bezeichnet, bei dem einzelne Personen von Gott aus dieser physischen Welt lebendig emporgehoben (entrückt) und in die geistige Dimension Gottes oder an einen anderen Ort auf der Erde gebracht werden. 2. For some items (such as airfares and lodging away from home) prices are still well below pre-pandemic levels, while for others (such as used cars and car rental) they are well above. Registrieren Sie sich und bieten Sie mit. Hauskauf Franken - Alle Angebote für Häuser zum Kauf in der Region hier finden - immo.inFranken.de. We would like to show you a description here but the site won’t allow us. Governments will have to implement the right policies to facilitate the reallocation of labor towards the most promising sectors.<\/li><\/ul>"},{"layout":"linklist","uid":25191,"publicationDate":"02 May 10:54","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180021.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJLvoB7Z-hhFGq1JTAjv18QE=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- US CPI rose 0.8% mom in April, the largest monthly rise since 2009, while core CPI (which excludes the volatile food and energy components) rose 0.9% mom, the most since 1982. Italy could join them in the coming months.<\/li><\/ul>
- In his recent presentation of the more than USD 2tn infrastructure package, US President Biden proposed the introduction of a 21% global minimum tax for multinational corporations. If so, this is a signal of immense importance as it threatens the very foundation of US democracy.<\/p><\/li><\/ul>","hash":"e2fda6f48f4beb7f2e9a16bde35b727c4d7cd8e0d73c422d49e7378ade652268","available":"0","settings":{"layout":"linklist","size":"default","showanalysts":"0","showcompanies":"0","showcountries":"0","showcurrencies":"0","synopsislength":"-1","synopsisexpand":"0","nodate":"0","nolinktitle":"0","notitle":"0","dateformat":"d M G:i","noproduct":"0","noflags":"0","shownav":"0","oldestedition":"","limit":"12"}},{"layout":"linklist","uid":25301,"publicationDate":"14 May 14:38","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180145.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIikWNKbmqLBaw=&T=1&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - US inflation: Don`t be fooled by outliers","product":"Chart of the Week","synopsis":"
- \u2026the signs of trouble at the ECB.<\/p><\/li><\/ul>"},{"layout":"linklist","uid":25001,"publicationDate":"08 Apr 9:26","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179774.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbHsMztX-hzyE=&&T=1","protectedFileLinkDe":"","protectedFileLinkIt":""},"title":"Chart of the Week - Global minimum corporate tax and its varying impact on EU countries","product":"Chart of the Week","synopsis":"
- The appropriate vs. likely policy responses, and \u2026<\/p><\/li><\/ul>
- The global recovery: <\/strong> Under way but unevenly so.<\/p><\/li><\/ul>
- Acquisition and ownership: <\/strong> Buildings built before 31 December 2020 must have a class A Energy Performance Certificate, or be within the top 15% of the national or regional building stock. While the ECB indications from the March meeting are subjective, we would be surprised if 'significant increase' was meant to be less than a 20-25% boost in purchases. With more than 50 analysts, UniCredit Research provides high-quality macroeconomic and financial market analysis to support clients in the development of investment plans, strategic and tactical asset allocation of financial investments, security selection and risk management. Look up the German to Spanish translation of Rette mich in the PONS online dictionary. We expect supply pressure to remain sizeable at the extra-long maturities. Your date of birth is required for the approval process and will only be used for verification purposes. [A F# C#m G#m B C# F#m E] Chords for Oomph! Economics Chartbook - The US leads the way to a brighter outlook (2Q21). To direct (a weapon or camera) toward a point. Retail sales are only a subset of total personal consumption, but it seems highly likely that a sizeable proportion of the stimulus checks were not spent, at least not immediately.<\/li><\/ul>"},{"layout":"linklist","uid":25023,"publicationDate":"11 Apr 12:10","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_179796.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJB57xGVxqtJbJv4X7fOd_i4=&&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"
- CEE benefits from larger stable capital flows than other EM. This is NOT the English lyrics. Depending on the building and conditions in the EU member states, an extensive renovation can reduce the PED of a building by 50-80%.<\/p><\/li><\/ul>
- However, heavy market funding will not be a key driver of yields, as the ECB will remain extremely active with asset purchases, as in 2020. l go to last reply. LibriVox is a hope, an experiment, and a question: can the net harness a bunch of volunteers to help bring books in the … p toggle public/private. Amazon Music Stream millions of songs: Amazon Advertising Find, attract, and engage customers: Amazon Drive Cloud storage from Amazon: 6pm Score deals on fashion brands bab.la arrow_drop_down. With few exceptions, fiscal impulses are likely to be negative in 2021-22.<\/p><\/li><\/ul>
- Renovation: <\/strong> A renovation must either be a major renovation, or one that leads to at least a 30% reduction of the PED of a building. To direct or propel (an object, such as a ball) toward a point: aimed the pass at a wide receiver; aimed the shot at the lower right corner of the goal. Net M\/L issuance will likely be particularly heavy in 1Q21, due to front-loading and low redemptions.<\/li><\/ul>
- Eurozone issuers are taking advantage of the low-yield environment and are increasing their issuance activity at the extra-long end. In our view, considering the fact that the definition of NZEB is different in each EU country and the market share of NZEBs in the EU is on average quite small, this overall approach seems misguided.<\/p><\/li><\/ul>
- We like a 30\/50Y flattener on the BTP curve, especially after recent steepening, as it represents a defensive trade if selling pressure on BTPs resurface. The central banks need to keep their cool.<\/p><\/li><\/ul>
- The big jump in US inflation for April: <\/strong> I\u00b4ll argue that it\u00b4s \"noise\" and that you can safely look through it, as indeed key policymakers have made clear they will. All too long The serpent’s evil Malice has beguiled me; False sensuousness, Vain loving Has utterly turned me away from God. Last year\u2019s economic losses could be recovered this year in Hungary, Poland and Romania and the next year elsewhere. In addition to differences in term premium and liquidity conditions, the 30\/50Y spread on both curves is affected by yield volatility and differences in bond convexity.<\/li><\/ul>
- Elections in Bulgaria and Czechia are highly uncertain due to the incumbent administrations\u2019 handling of the pandemic. e2fda6f48f4beb7f2e9a16bde35b727c4d7cd8e0d73c422d49e7378ade652268;;[{"layout":"linklist","uid":25302,"publicationDate":"16 May 12:21","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1","protectedFileLinkIt":"https:\/\/www.research.unicredit.eu\/DocsKey\/economics_docs_2021_180146.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJK3Us8-eDTIi8h_rcilV20c=&T=1&T=1"},"title":"Chief Economist\u00b4s Comment - Sunday Wrap","product":"Chief Economist's Comment","synopsis":"