Investment Traffic Lights

Forecasts are more uncertain than ever in time of war. In our core scenario, we expect no recession in Europe and slight upside potential for equities.

Investment Traffic Lights | Quarterly Edition

Omicron and inflation have hit markets. But they probably won’t change the economic outlook much. We con-tinue to believe a good year for the markets lies ahead.

2022 – strong enough for monetary detox?

The global economy should grow above potential in 2022, with inflation worries proving worse than inflation itself. Declining monetary support could unsettle markets, however.

Our forecasts

All forecasts at a glance

Investment Traffic Lights

Some markets have been correcting since September, as inflation could turn out higher and growth lower than hoped. But even then, the markets may have some scope to advance.

Markets are barely reacting to the sharp change in the German Federal election odds. Rightly so?

By: Martin Moryson

What could the parties' election programs mean for future fiscal policy?

By: Martin Moryson

Investment Traffic Lights | Quarterly Edition

Markets have come well through summer as companies made decent profits and interest yields remained ultra-low. The conditions are good for equities.

China and the U.S. move apart

By: Elke Speidel-Walz

A more complex relationship with a global impact

German Federal Election 2021

By: Martin Moryson

More open than ever – But what will markets make of it?

Investment Traffic Lights

Mid-July turbulences as well as several flareups in emerging markets provide a reminder of the need for vigilant patience.

CIO Commodity Commentary

By: Darwei Kung

An OPEC+ agreement – finally

Investment Traffic Lights

June was quite positive for the markets. Vaccination progress and good data coincided with reduced concerns about inflation. But the upswing is likely to lose momentum.

CIO Commodity Commentary

By: Darwei Kung

Gold-price setback after hawkish Fed

Investment Traffic Lights

In May most risk assets continued to rise, with some equity indices in Europe and the United States reaching new highs.