India: The Weak Spot in the Growth Star
India is the world’s most populous country and has long since overtaken the People’s Republic of China in terms of economic growth. If the boom continues, will India become the “new China”? Investors should remain cautious, says Thorsten Fischer,
As true for the football World Cup as it is for financial markets: forecasts are a lesson in humility
In financial markets, accurate forecasts matter. Those who have correctly predicted an event in the past are therefore often regarded as geniuses. Wrongly so, says Thorsten Fischer, Managing Director and Head of Portfolio Management at Moventum AM. This
Markets Were Too Dovish: Fed Forces Investors to Rethink
The US Federal Reserve left key interest rates unchanged, as expected. What came as a surprise, however, was the message behind the decision: the Federal Reserve made it clear that a rate hike is by no means off the table. For many investors, this
Investing in an Era of Industrial Policy
Subsidies are making a global comeback – as a driver of innovation, but also as a source of market distortions. Studies show the limited effectiveness of government support. Ultimately, however, it is not the quantity but the quality of subsidies that
Bonds: It’s All About the Coupon
Escalation in the Middle East, persistent inflation and renewed rises in key interest rates are shaping global bond markets. Across all segments, a structural shift is becoming apparent: once again, a large share of expected returns now comes from
Opportunities in niches
The economic situation in the major economies remains relatively solid. At the same time, geopolitical tensions, higher interest rates and structural bottlenecks are reshaping capital markets – making a straightforward continuation of the broad equity
Markets Gripped by AI and the Middle East
Warnings of an AI bubble and a potential energy crisis are currently dominating financial markets. Geopolitical risks are becoming the new normal. While the US is benefiting from the AI boom, Europe is coming under greater pressure from energy prices and
The energy crisis is becoming a currency crisis
Energy-dependent economies are currently suffering a double blow: rising oil prices are putting them under significant pressure, while their currencies are depreciating at the same time. “The energy crisis is therefore turning into a currency crisis,”
How savers are quietly dispossessing themselves
Europe’s savers are quietly losing wealth: trillions are sitting in non-interest-bearing accounts while inflation erodes purchasing power. Europe’s greatest misallocation of capital may not be found on the stock market, but rather in current and
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