We are looking back on a turbulent investment year. After the slump in February and March, we saw a strong recovery on the markets almost across all asset classes. CEO Heinz Bednar and CIO Gerold Permoser give an outlook for the capital markets in 2021.
The trade conflict between China and the USA is gaining further momentum. In our opinion, this should also be seen against the background of the approaching presidential election campaign.
The majority of economic indicators point to a continuation of an economic recovery. This is indicated by data on industrial production, survey-based indicators and rising producer prices.
On top of the corona situation, two additional developments have been crucial for the development of the financial markets. The central banks have been pursuing a very expansive regime on a global scale, and at the same massive stimulus packages have been passed in an effort to get the economy up to speed again
The surprisingly good corporate earnings provided a tailwind & the price of gold continued to rise. Update from the Investment Division.
The US stock market was lifted by technology stocks such as Apple and Microsoft & earnings growth so far is -10.5%. Update from the Investment Division.
TikTok is the focus of the dispute between the US and China & corporate bonds posted their best month in June. Update from the Investment Division.
Yesterday, the Fed was the focus of attention & the increase in Covid 19 infections could put further pressure on the economy. Update from the Investment Division.
In one hit the Black Eyed Peas sang “I just can’t get enough”. Even governments and central banks seem to have fallen in love with economic stimulus packages. Update from the Investment Division.
The markets for risky assets ended last week with losses. The main reason was the escalating tensions between China and the US. Update from the Investment Division.