Latest Posts
The Triple B Plan
Donald Trump’s “Big Beautiful Tax Bill” package is intended to bring comprehensive tax cuts in the US. The already high budget deficit would increase further. This would also have an impact on US government bond yields, which have been rising for months anyway. There is a threat of a downward spiral with unforeseeable consequences.
What role will the dollar and US government bonds play in the future?
Against the backdrop of the debt debate in the US, yields on US government bonds have risen recently. Rising debt and political uncertainty are also weighing on confidence in the US dollar. Could the greenback even lose its role as the global reserve currency?
Eastern Europe’s economy showing good growth – trade conflict remains a risk factor
Despite geopolitical tensions and trade risks, Eastern Europe remains on track for growth. Read today’s blog post to find out why Poland is performing particularly well, what role the investment program in Germany and the war in Ukraine are playing, and which markets could be promising.
US draft budget: “The rules of the game for renewable forms of energy are changing”
The recently published US budget draft also contains interesting passages on the future of the Inflation Reduction Act and the associated subsidies for renewable energies. In an interview, environmental equity fund manager Alexander Weiss explains what the draft means for investors and why the market reacted positively to it.
Trade conflict between the USA and China eases
The US and China have agreed to suspend high tariffs for 90 days. While the markets are reacting with relief, some uncertainties remain.
Why Biodiversity matters for sustainable investing: Insights from the PRI Nature Forum
The topic of biodiversity is rapidly becoming more and more recognized as a material issue among sustainable investors. Here are some insights on what . Research analyst Irina Gagloeva writes in todays blog post about what the sustainable investment industry is focusing on when it comes to biodiversity.
Semiconductor Industry: Between AI Boom and US Tariffs
The semiconductor industry is considered one of the biggest beneficiaries of the AI boom. Investors therefore kept a close eye on the sector’s figures for the first three months of 2025. One thing became clear: the expansion of AI infrastructure continues to deliver good results for most chip companies – but the sword of Damocles in the form of impending US tariffs is still hanging over industry giants such as Nvidia & Co. Read more in today’s blog post.
Trump 2.0 – The first 100 days lie behind us
Following the tariffs shock and the accompanying market turmoil, the deferral of said tariffs has led to a surprisingly rapid upturn on the equity markets. That being said, uncertainty remains high, even though the US reporting season has been positive so far. Read more in the market commentary by Gerald Stadlbauer, Head of Discretionary Portfolio Management.
The first 100 days
The first 100 days of Donald Trump’s second presidency are behind us. What has happened since then? Will the structural changes continue at this pace?
International Monetary Fund/World Bank Group Spring Meetings 2025
At this year’s spring meeting of the International Monetary Fund and the World Bank, US tariffs were the dominant topic.
Central banks at odds: How are Fed and ECB reacting to the trade conflict?
Trump’s customs policy and the trade conflict also pose new challenges for central banks. However, while the ECB has room to cut interest rates in order to support the economy, the Fed must exercise caution in the USA. Higher tariffs also threaten to push up inflation again.
However, US President Donald Trump does not like the Fed’s course at all. His attacks on Fed Chairman Jerome Powell are fuelling concerns about the central bank’s independence. Even though Trump has recently backed down slightly, his comments are once again unsettling the markets.
Environmental stocks: How is the sector faring in the current volatile environment?
The first quarter had a few surprises in store for the markets. The US tariff announcements shook the markets to the core and caused a volatile stock market environment. The environmental technology sector was not spared either. What is the outlook for the sector? We asked fund managers Clemens Klein and Alexander Weiß in a double interview.
Stock markets react volatile to tariff pause: what happens next?
The US government’s extensive tariff plans have been causing volatility on the stock markets since last week. Yesterday’s announcement of a 90-day pause for the new tariffs was met with relief by the markets – even though a further escalation between the US and China is on the horizon. We take a look at the current situation on the financial markets and analyse the possible consequences of an escalation in the trade conflict.
US tariffs trigger a price slide – what to do now
The latest US tariffs have caused considerable turbulence on the financial markets worldwide. What is the background to the tariffs and how can investors react in the current environment?
Central banks are becoming more cautious: these are the implications for the bond market
The investment package in Germany and the associated ‘abandonment of the debt brake’ has caused a lot of movement in the eurozone bond market. Meanwhile, central banks have to manage the balancing act between slowing economic growth and rising inflation. Dániel Bebesy, Fixed Income Portfolio Manager at Erste Asset Management Hungary, talks in an interview about the recent central bank meetings and their impact on the bond market.
Turkish financial markets temporarily under pressure following political turbulence
The Turkish stock market has been turbulent recently: the arrest of Istanbul mayor Ekrem Imamoglu caused massive uncertainty. What does the political unrest mean for the Turkish economy and the Istanbul stock exchange?
Five years since Covid hit: a historic crash, and the lessons learned
This week marks the fifth anniversary of the low point of the coronavirus crash. In February and March 2020, global financial markets experienced one of the fastest downturns in history. The coronavirus crisis brought the economy to a virtual standstill and caused a massive decline in stock prices, unsettling many investors.
Our new blog post looks back at the events that led to this crash and analyses what lessons investors can learn from the Covid crash. Because as quickly as prices fell, they were also largely able to recover the losses.
China Prepares Itself for Trade War and Makes Plans to Get Economy Back on Track
China’s government wants to get the country’s stagnating economy back on track and is preparing for a trade dispute with the US. Under the motto “Made in China 2025,” the goal is to achieve growth of 5 percent. The focus is on key industries: Did you know that China has become the global market leader in renewable energies and produces by far the most electric cars worldwide?
Read more about this and investment opportunities with funds in our blog.
Trump on fire!
Donald Trump is getting serious and imposing temporary tariffs on his major trading partners. He is also escalating the war in Ukraine and increasing the pressure on Europe, which will hopefully soon be galvanized into unity with a new German Bundestag.
Winzer of the week: It’s getting more extreme
The new tariffs imposed by the US government and the reactions from Mexico, Canada and China make a trade war more likely. At the same time, the US economy is showing the first signs of weakening. All of this could mean a headwind for the financial markets.
Get Flexible – YOU INVEST funds are starting up again
From March, the YOU INVEST funds will be gradually reorganized. With the renaming to YOU INVEST FLEXIBLE, the funds will not only have a new name but also a more flexible investment strategy and new opportunities through additional diversified sub-funds in which the funds of the YOU INVEST family can invest from the realignment onwards. You can find all the information on the changeover in today’s blog post 👉
After the election, Germany is facing a change of direction
After the election in Germany, a two-party coalition could quickly be formed under the leadership of the CDU politician Merz. After five years of economic stagnation, the potential for a change of course is there. The trend-setting German stock index (DAX) is rising.
Luxury goods sector could resume expansion
For years, the growing demand for luxury lifestyle products kept the tills of the luxury goods industry ringing. In 2024, that has changed: after years of booming sales, the industry experienced a decline for the first time since the coronavirus outbreak of 2020.
This year, the market could return to growth. Hopes are pinned on a comeback of the important sales market China and a growing appetite for luxury goods among Americans. How are the listed industry heavyweights LVMH & Co. faring in this environment and why are European stocks particularly worth a look in the world of glamor and luxury?
Investment View | February 2025
What’s happening on the markets? In our Investment View, the experts of our Investment Division regularly provide insights of current market events and their opinion on the various asset classes.
Trade conflict & Ukraine war: How structural change could affect the markets
In the global world order, much seems to be in a state of upheaval. The changes brought about by the new US administration are a structural change that is also affecting the financial markets. In our view, this scenario is currently the most likely 👉
Election in Germany: New government must lead the country out of the economic crisis
Following the premature end of the traffic light coalition, Germany will elect a new Bundestag in around a week’s time. The challenges for the future government are manifold. First and foremost, the weakening economy needs to be revitalised. We take a look at the real state of the EU’s former economic engine and what the parties have in store for the crisis.
What effects could DeepSeek have on the technology sector?
The new AI model from Chinese start-up DeepSeek caused a stir on the stock market a fortnight ago. The seemingly much more efficient and therefore cheaper model caused the share prices of many a tech heavyweight to plummet. Although the initial market reactions were probably exaggerated, one question remains: what long-term impact will DeepSeek have on the big tech companies?
The Tariff Man
Last Sunday, the US government announced new tariffs on goods from Canada, Mexico and China, only to suspend them again shortly afterwards. How might the trade conflict develop? Is the EU also threatened with new tariffs?
Space industry hopes for new boom under Donald Trump
With Donald Trump in the White House, the private space industry is hoping for a new lease of life. Right at his inaugural address, Trump announced a manned mission to Mars. Many experts see the SpaceX group, led by Trump confidant Elon Musk, as naturally being in pole position for new government contracts. But other companies, such as Blue Origin, owned by Amazon founder Jeff Bezos, also want to get involved. Experts also see potential for the European space industry.
DeepSeek: the Sputnik moment for AI?
A new AI model is making headlines and causing US tech giants to falter. Developed by a Chinese start-up, DeepSeek is now forcing us to fundamentally question some of the assumptions made during the AI boom. Find out what this could mean for the tech and chip industry in the article 👉
Bella Economia: Italy’s path to pre-crisis levels and what the “Superbonus” has to do with it
The Italian economy is stagnating – it has only recently returned to pre-crisis levels. Tight budgets, an uncertain political environment and an ageing population are hindering growth. High investments are expected to achieve the turnaround. On the bond market, investors are confident that this can be achieved.
Rising inflation expectations and yields: a risk for market sentiment?
Two developments on the stock markets have stood out since the beginning of the year: rising inflation expectations and significant increases in government bond yields. Could market sentiment soon turn frosty in view of this?
Trump’s tariff plans: a game with no winners?
On 20 January, the world will once again look to Washington with anticipation as Donald Trump is sworn in as US President for the second time in front of the Capitol. In any case, his statements and plans are already the focus of attention on the financial markets.
Trump is planning high import tariffs for goods, for example from Mexico and China. The possible consequences range from the threat of a trade war to a comeback of inflation. In the end, will no one benefit from the planned tariff measures?
Best of Charts: What’s coming, what’s going, what’s staying from 2024?
We can look back on an eventful year on the markets – although 2025 is also off to a somewhat turbulent start (at least in terms of domestic politics). In our first ‘Best of Charts’ of the new year, we look at what will remain of the stock market year 2024 and what we can expect in the coming months.
China prepares economic stimulus package in response to recession and looming trade war
The former growth engine China is having trouble getting back on track. Geopolitical tensions, the crisis in the domestic real estate sector and weak domestic consumption are hampering the country’s economy.
The government in Beijing is using billions in support measures not only to counter the economic downturn, but also to brace itself against the tariffs announced by US President-elect Donald Trump. But can these measures also help the faltering Chinese stock market?
Pharmaceutical Companies Increase Sales, Focus on Innovation and Acquisitions
The pharmaceutical industry was able to further increase its sales in the last quarter. The biggest players in the sector are relying on acquisitions and innovations – including the increased use of AI. However, things could get more uncomfortable for pharmaceutical companies in the US market: the future US Secretary of Health and Human Services, Rober F. Kennedy Jr., is considered a critic of the industry and has already spoken out in favor of capping drug prices.
The ethical business case: What is the case for ESG?
Climate protection has long since arrived in the financial industry. Even though there has recently been political headwind for ESG in some countries, the topic remains important for investors. This is because taking sustainability factors into account makes sense for companies in a number of ways. You can find out more about this in the article.
Market outlook 2025: what opportunities and challenges we can expect for next year
2025 brings significant political changes: First and foremost, a new (and at the same time old) US president, whose plans and intentions are not yet entirely clear. In Europe, meanwhile, we are facing economic challenges, but also opportunities due to possible interest rate cuts by the ECB. What can we expect from the coming year and how can investors position themselves? Read more about this in today’s blog post.
Translated with DeepL.com (free version)
Sovereign defaults and their debt restructuring
A glance at history shows that it is not unheard of for a state to go bankrupt. How does an entire country actually go bankrupt, what are the consequences and how do you react to this in fund management? Fund manager Felix Dornaus explains this in his blog post.
Going public: These companies might be floated on the stock exchange in 2025
After almost 3,000 IPOs worldwide in 2021, the number of IPOs has fallen in the past three years. This could change again in 2025, when some companies, primarily from the tech industry, are likely to venture onto the trading floor next year. In today’s blog post, we explain what these companies are and what an IPO actually means for a company.
Trump and green stocks – Interview with fund manager Alexander Weiss
Environmental stocks have corrected sharply in some cases as a result of the US election. We discuss with Alexander Weiss, fund manager of the ERSTE GREEN INVEST, how our fund management is positioned and what opportunities are arising for renewable equities.
Traffic light coalition stop – fast lane or reform logjam in Germany?
First, Donald Trump’s victory in the US presidential election, and then the end of the coalition government: What does the German economy have to look forward to? Experts see major challenges ahead for the world’s fourth-largest economy. However, the upcoming elections also offer the potential for a fresh start. In today’s blog post, we discuss what this could look like.
USA – a country is voting on its future
The day of the US election has arrived, bringing an end to a long, intense and exciting election campaign. What economic course could the US enter after the election and what impact can be expected on the country’s already high debt level?
Deficit spiraling out of control: French government plans drastic austerity program
The high deficit in the French national budget is forcing the new government to implement drastic austerity measures. Investors are keeping a close eye on the announced plans, as the tense financial situation has been noticeable on the stock market for some time.
The four seasons: when should I buy equities, Bitcoin, or gold?
Just as in nature, there are different seasons in the economy. This also has an influence on the stock markets – depending on the season, different asset classes such as equities, gold or bonds make sense. The good news for investors is that you don’t necessarily have to worry about the seasons; you can simply leave it to the experts.
US elections: are the billions of investments in green technologies at risk?
Two years ago, the USA initiated its energy transition with the Inflation Reduction Act. This was followed by billions in subsidies and investments in renewable energies. What will happen to the Act if Donald Trump makes a comeback to the White House? Is the “Green Rush” in danger of coming to an end?
Autumn on the stock markets will be anything but boring
Election campaign, interest rate turnaround, sluggish growth in Europe – there should be no sign of autumn fatigue on the stock markets. What will the coming (and certainly exciting) weeks bring for the markets and how can investors prepare for them?
Best of Charts: The road (in)to the White House
Three weeks before election day, the race for the White House is wide open: While Kamala Harris is ahead in the nationwide polls, Donald Trump is currently likely to be ahead in the crucial “swing states”. In any case, the economic situation and mood in the USA are likely to play an important role in the race for the presidency.
Who’s afraid of Donald Trump?
Election Day in the US is getting closer and closer: Who is afraid of a Donald Trump presidency again? How might the stock markets react to the election result? A high-level panel discussed this at this year’s Erste.Investment.Forum.
Mobility of the future: is the solution electric?
The European automotive industry is undergoing a transformation on the one hand, and is in crisis on the other. Both consumers and carmakers in Europe seem to be struggling with the question of the future of mobility. We therefore take a fact-based look at the direction in which the (car) journey could go.