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.

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?