Technology stocks: this was just the beginning
For a long time, nothing could stop the rise of US technology stocks: neither geopolitical tensions, higher inflation, nor the presidential election campaign. However, a market correction has now set
Disappointing purchasing managers' indices
Rotation from highly valued mega caps and AI stocks to small and mid caps and cheap value stocks is in full swing. The reasons cited are the interest rate reduction cycle in the USA, which will begin in September at the
Scope for the US Federal Reserve to cut interest rates
Despite all political uncertainties, the stock and bond markets showed a positive trend. In particular, there is increasing hope in the USA for an imminent first interest rate cut by the US Federal Reserve
Persistent inflation: what bond investors should consider now
The decline in the inflation rate is rather sluggish both in the USA and in Europe. Accordingly, monetary easing is also proceeding slowly. The situation in the bond market remains ambiguous.
China is struggling to recover
The positive PCE inflation data will alleviate, but not completely dispel, the Fed's concerns that inflation will remain above target for an extended period. The annual rate fell from 2.8% in April to 2.6%, the lowest level since March 2021.
No clear trend discernible for equities
The equity markets are currently caught between interest rates, growth and the political situation. Price swings in one direction or the other are possible and the trend remains unclear.
China and Europe push themselves economically, US economy stable
The economic data from the major economies is very mixed. While the recovery in Europe and Asia is stabilizing somewhat, the US economy has recently shown less momentum – albeit at a high level.
Stable US labor market keeps the buying mood high and the economy going
After the ECB presented its first interest rate hike, the focus turned to the US Federal Reserve. As expected, it left interest rates at a high level. The "dot plot" for the median expectations of future interest rate developments was even shifted
Silver: the little brother and the big trends
The price of silver has taken off in recent weeks – in the slipstream of gold, as the saying goes. However, silver is not just following suit, it has its own drivers, particularly demand from the solar and computer industries.
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