Evergrande is a Chinese group focused on real estate and construction, though it has a wide variety of other lines of business. With nearly four and a half million workers (both direct and subcontractors), it is one of the largest companies in China and in the world in that sector.
The Evergrande crisis and its possible impact on the markets has become the main focus of investors' attention. At the moment, there is a tense calm because it looks like the company will be able to meet its forthcoming debt payments.
Investors’ eyes are fixed on China and, in particular, on the real estate giant Evergrande. It is being called the new Lehman because of the effects that this company, which is on the verge of collapse, could have on the system.
Inflation has become a source of debate in any conversation about the economy. It is also an increasingly important issue at the meetings of central banks.
The ghosts of inflation have returned, and the gradual removal of stimulus by central banks is coming closer with the skyrocketing public debt.
Last week, Germany’s Cal 2022 baseload power contract, the European benchmark, hit a new record high of €97.25 ($114.50) per megawatt hour, almost double the reference price for this year (like in Spain).
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The latest data shows that GDP growth in the Eurozone reached a new peak in the second quarter. Heading into the final part of the year, doubts as to whether the pace of recovery will continue until the end of 2021 have investors uneasy.
The markets seem to have started the current period on a positive note. The good pace of growth, which has exceeded the ECB’s expectations, and the liquidity in the markets, have inspired a climate of optimism for the upcoming months.