Goldman Sachs: Eurozone bond spreads can better withstand the impact of ECB rate hikes in 2022.

Goldman Sachs strategist Simon Freycenet said that if the European Central Bank raises interest rates in response to soaring oil and gas prices, sovereign bond spreads "should show more resilience in 2022." In a report released on Wednesday, Freycenet wrote that although the current situation echoes the energy shock caused by Ukraine in 2022, sovereign spreads are unlikely to widen significantly as they did back then.