Unspectacular on the economic side
The past two weeks have been unspectacular on the economic front. Instead, the US presidential election is increasingly casting its shadow. The markets are trying to identify the issues that would benefit if one or the other were to
Where the real stock market drama unfolds
For the stock markets, the close race between Kamala Harris and Donald Trump is a non-event. Normally, the rule is: uncertainty is the enemy of markets. Yet, the S&P 500 has recently climbed from one all-time high to the next, unaffected.
ELTIFs: strong growth and investor-friendly regulation
The number of authorized ELTIFs is set to surge again in the fourth quarter of 2024. “We expect the number to increase by one-third and the assets under management to rise by almost 50 percent by the end of the year,” says Michael Patzelt, Head of Sales
All clear on the inflation front in the Eurozone
Improved macro data in the US created a friendly market environment. The US labor market data for September was unexpectedly good after two disappointing months.
Chinese central bank: Measures announced to strengthen the economy
With a bang, the U.S. Federal Reserve launched the long-awaited interest rate cut cycle, lowering the rate by 50 basis points. Overall, the reaction on the stock markets was positive. The bond markets reacted more cautiously, as a lot of the rate cut
Industries with opportunities: commodities, AI, and healthcare
Currently, markets are rising almost in unison, with little differentiation between industries, regions, and the quality of individual stocks. “However, in the long term, this differentiation will re-emerge,” says Carsten Gerlinger, Managing Director and
Stocks and the economy: the connection is lost
Despite the not-so-rosy global economic outlook, stock markets are steadily rising. “This is partly due to interest rate cuts by central banks, which many interpret as a stimulus”, says Carsten Gerlinger, Managing Director and Head of Asset Management at
Potential for a series of interest rate cuts
All eyes remain on the Fed, which is likely to start the cycle of interest rate cuts. The only thing that remains open is the amount of the first cut - 25 or 50 basis points - and what indications will be given for the future interest rate
Trump 2: Not the Stock Market's Preferred Candidate
Lower taxes, tariffs to protect domestic industry, stricter immigration control – one might think that Donald Trump's plans would be favorable for the capital markets. However, each of his measures would bring about undesirable side
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