Pfandbrief pick-up over Bunds
In the course of 2021, the pick-up of Pfandbrief pick-up over Bunds moved in a band between 30 and 55 basis points. In the wake of the interest rate turnaround in the USA, interest rates are also expected to rise in the Eurozone in 2022. For example, bank experts see the yield on 10-year Bunds averaging around 0.1 % at the end of 2022, about 20 basis points above their current level.
In view of rising Bund yields, the Pfandbrief pick-up from the current level of around 50 basis points at year-end 2022 will
be below 50 basis points.
continue to be around 50 basis points.
lie above 50 basis points.