Insights
Our experts bring you their latest insights about the capital markets.
Market Commentary | 04.07.2024
Interest-rate cuts have begun despite divergent data. Whether or not the stimulus is enough to reinvigorate the European economy on a lasting basis is uncertain. In the U.S., leading indicators are contributing to a mixed picture, and China is injecting further stimulus, particularly in the real estate sector.
Market Commentary | 06.06.2024
It is well known that the final push is the hardest. And that goes for the fight against inflation too. In light of the good progress made, western central banks will now start cutting rates, but there won’t be many. A soft landing therefore also remains highly likely. We see geopolitics and overwhelming national debt as potential risk factors.
Market Commentary | 07.05.2024
Solid labour markets, a strong services sector and progress in the manufacturing sector are injecting positive impetus into the global economy. Driven by the U.S. economy, the IMF has upwards slightly its growth projection. Stagnating disinflation raises the question as to whether interest rates are restrictive enough at all.
Market Commentary | 05.04.2024
Growth prospects are improving globally. In light of this, inflation data will remain persistently higher than the central bank target despite the successes in previous quarters. Nevertheless, both the ECB and the Fed will follow Switzerland’s example and start cutting interest rates in June. In our view, the biggest future risk apart from the ongoing geopolitical challenges is the problem of national debt.
Market Commentary | 05.03.2024
Central banks are looking at the data, while politicians are gearing up for elections. Around 70 countries are set to go to the polls. These elections will have a impact. Monetary policy, economy and geopolitical tensions will further affect the economy. While the US economy remains an economic powerhouse, Europe and China seem unable to get out of the starting blocks. Interest rate policy in Europe and political intervention in China could stimulate the economy further.
Market Commentary | 07.02.2024
The outlook for 2024 will be strongly influenced by monetary policy, elections and geopolitical tensions. In our Market Commentary, Portfolio Manager Michael Blümke outlines ETHENEA's view of the current macroeconomic environment and what investors can expect for the coming quarters.
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