raart schreef op 14 januari 2025 20:01:
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1min bierviltje berekening aan hand van de tabel.
Notable macroeconomic movements in 2H24 are:
•Widened government bond spreads for both AAA-rated government bonds (c.33bps1 widening) as well as AAand lower rated government bonds (c.29bps2 widening).
-5*0,33*2+0,29*8*2= -7,94•Widened mortgage spreads (15-20bps widening from a level of 88bps as of 30 June 2024). Our through thecycle average mortgage spread expectation is around 100bps.
-0,15*12*2= -3,6•Lower interest rates (c.-41bps3).
-2*0,41*2= -1,64•The expected impact from interest rate steepening based on observed movements is limited.
0•Corporate spreads remained relatively stable.
0•Most European equity indices were slightly negative during the period.
•Guidance provided during the 1H24 results indicated scope for small positive real estate revaluations in thesecond half of the year.
Heffen elkaar op?+OCG- outflows.