Since the beginning of the year, the rapid recovery of the economy has mainly supported securities such as equities. But what happens next? Erste AM Managing Director Heinz Bednar and Head of Multi Asset Alexander Lechner explain how the second half of 2021 and especially our focus on sustainability will continue to develop in our outlook for the next six months.
ARTICLES IN THE TOPIC “Markets”
![Is this the end of the reflation trade? Is this the end of the reflation trade?](https://blog.en.erste-am.com/wp-content/uploads/2021/07/aditya-vyas-6Ih4UoqzaAs-unsplash-scaled-1-370x210.jpg)
Is this the end of the reflation trade?
Inflation peaked in the US and the eurozone in May and has declined from there. Long term yields fell and lowered real yields. How could this happen?
Oil prices climb to multi-year highs after OPEC negotiations fail
The rise in oil and energy prices is fueling concerns about a burgeoning inflation. Behind the failure of the latest OPEC negotiations is also a political competition for influence and power in the Gulf region.
Falling economic momentum is not bad news
One of the most important economic indicators, the global purchasing managers index for the manufacturing sector, fell in June compared to the previous month. Is that bad news for risky asset classes like stocks? Our chief economist Gerhard Winzer analyzes the most important scenarios.
5 years after the Brexit referendum: UK on the path to recovery in turbulent times
These days mark the 5th anniversary of the British vote to leave the European Union. How does the UK stand economically after the “Brexit”? What challenges still lie ahead for the country? What opportunities do investors have? Read more in today’s blog.
![The Fed is a dove The Fed is a dove](https://blog.en.erste-am.com/wp-content/uploads/2021/03/48986741688_02a05e9e90_b-370x210.jpg)
The Fed is a dove
Equities have been weaker in recent days. This is largely due to concerns that sooner-than-expected interest rate increases in the USA could be detrimental to the financial market. Chief economist Gerhard Winzer explains why in the most likely case scenario, this will not be happening in the foreseeable future.
![G7 countries agree climate targets, vaccination programmes and China policy G7 countries agree climate targets, vaccination programmes and China policy](https://blog.en.erste-am.com/wp-content/uploads/2021/06/2021_06_21_APA_G7_BlogHeaderPicture-scaled-1-370x210.jpg)
G7 countries agree climate targets, vaccination programmes and China policy
With renewed vigour, the heads of state of the G7 group of leading industrialised nations recently agreed climate targets, vaccination programmes for poor countries and a common front against China at their eponymous summit, held in the British resort of Carbis Bay.
![China bonds in demand for mixed funds China bonds in demand for mixed funds](https://blog.en.erste-am.com/wp-content/uploads/2021/06/alana-harris-LH_Q8DBkgZ0-unsplash-scaled-1-370x210.jpg)
China bonds in demand for mixed funds
China as a third pole. The reasons why fund managers expect China government bonds in mixed funds to generate more return and at the same time provide better diversification.
![Covid vaccinations: Apathy follows euphoria Covid vaccinations: Apathy follows euphoria](https://blog.en.erste-am.com/wp-content/uploads/2021/06/steven-cornfield-jWPNYZdGz78-unsplash-scaled-1-370x210.jpg)
Covid vaccinations: Apathy follows euphoria
If you ask around in your own circle of acquaintances, you will find that the vaccination coverage rate is now significant. In Austria, it seems, everyone who really wants a vaccination has already received at least a partial vaccination – regardless of prioritization, age or medical history. The EU vaccination rate lags about 6 weeks […]
![Rapid recovery in the developed world Rapid recovery in the developed world](https://blog.en.erste-am.com/wp-content/uploads/2021/05/pawel-czerwinski-eybM9n4yrpE-unsplash-scaled-1-370x210.jpg)
Rapid recovery in the developed world
The global economy is caught between a strong recovery and inflation fears. Despite low risk premiums, Erste AM Chief Economist Gerhard Winzer continues to see opportunities for equities as long as bond yields rise less than corporate earnings growth rates. Read more in his blog analysis.