Investment Traffic Lights | Quarterly Edition

By: Björn Jesch

Our monthly market analysis and positioning

Not an easy year, but one with alternatives

By: Björn Jesch

Even if this year's extreme developments do not recur in 2023, there will be no lack of challenges. But investors at least have more possibilities as bonds revive.

Our forecasts

All forecasts at a glance

Investment Traffic Lights

Our monthly market analysis and positioning

China’s 20th Communist Party Congress: A leader-ship reshuffle in a challenging environment

Expectations are high for the Party Congress. Companies and investors hope to get hints on potential Covid policy changes and support for the ailing real estate sector.

Investment Traffic Lights

Our monthly market analysis and positioning

Bonds are back with carry

The bond sell-off and aggressive monetary policy allow for a new look at the segment

Investment Traffic Lights

Our monthly market analysis and positioning

Investment Traffic Lights

Our monthly market analysis and positioning

From valuation risk to earnings risk

The danger of recession is more evident now in market valuations but not in earnings forecasts

Italian journeys

A lot has changed when it comes to the European government debt market since the Eurozone crises a decade ago – despite the latest political crisis in Italy.

Investment Traffic Lights

Our monthly market analysis and positioning

Investment Traffic Lights | Quarterly Edition

On a 12-month horizon, we are positive on most risk asset classes, even though we expect inflation to keep the markets busy this year.

Investment Traffic Lights

Despite a record weak start to the year, capital markets are likely to remain very nervous for the time being, pressured by inflation, interest rates, the Ukraine war, supply chains and China.

Investment Traffic Lights

The first quarter was dramatic in many respects. In addition to the war, monetary tightening, inflation and eco-nomic concerns leave the markets with little room for maneuver.