Bankinter | Moody’s confirms its rating at Aaa, with a stable outlook. It views the defence and infrastructure investment plan positively and revises its growth forecasts upwards by 0.5 p.p. to 1.4% in 2026 and 1.3% on average between 2026 and 2023. For 2025, it still expects the German economy to remain stagnant.
Analysis team’s view: Good news. The support of the rating agencies should bolster the Bund, following the rise in YIEs (currently 2.56%) in light of the expected increase in public spending.
