Market view How we see the markets

Poor economic data out of both the US and Europe eased investors’ worries that recent surprise hikes by the Bank of Canada and the Reserve Bank of Australia could be a sign of what is to come next week from the world’s two largest central banks. The US Federal Reserve (Fed) and European Central...

The Bank of Canada became the next central bank to defy expectations by restarting its interest rate hiking cycle on Wednesday after Australia’s central bank surprised markets with a hike just a day earlier. Equity markets mostly traded lower as fears spread that the US Federal Reserve could...

Consumer inflation expectations in the eurozone have fallen sharply, which may provide some relief for the European Central Bank (ECB) as it looks to end its rate hiking cycle this summer. That news and a slightly better growth outlook for the global economy by the World Bank helped stock...

After strong gains to end last week, Monday’s session was clearly weaker for stock markets as the euphoria surrounding the US debt ceiling deal faded and investors looked ahead at the potential for another interest rate hike in the US, possibly even as early as next week. Australia’s central...

Nearly all major stock market indices ended the week with a strong session on Friday following solid US labour market data released at the end of the week. The employment report contained some mixed data but was interpreted by some market participants as providing the US Federal Reserve (Fed)...

In Washington, the compromise proposal in the dispute over the debt ceiling was given the green light in the Senate by a vote of 63 to 36 and can now be signed by US President Joe Biden. The averted US default will bring relief to the capital markets. The focus this afternoon will be on the...

The ongoing political balancing act in the dispute over raising the debt ceiling in the US on the one hand and the uncertainty about the next step of the US Federal Reserve on the other hand continue to cause nervousness on capital markets. However, the bill to suspend the debt ceiling cleared...

The compromise reached in Washington in the dispute over raising the US debt ceiling did not set off fireworks on the stock markets, as a "last-minute solution" is more or less priced in. However, the graphics card, server and AI chip specialist Nvidia reached a stock market value of one...

The White House and the Republicans in the House of Representatives have reached an agreement in principle to raise the debt ceiling for two years and to limit spending, as House Speaker Kevin McCarthy confirmed. On the stock exchanges, the agreement in Washington did not cause any big jumps in...

On capital markets, investors are still nervously waiting for progress in the dispute over raising the debt ceiling in the US. While the blue chips on Wall Street moved more or less sideways, the Nasdaq technology exchange posted solid gains, driven by a strong quarterly result and outlook from...

Last month, Germany’s best-known stock index hit a new record high. The DAX, which includes the 40 largest German companies, reached a new record of 16,331.94 points on May 19, beating the previous high of 16,291.19 set in the fourth quarter of 2021. Some analysts immediately spoke of a “fake”...

The topic of "artificial intelligence" (A.I.) is currently an integral part of mainstream media. Although very intensive research has been going on in this field for years and enormous sums have been invested, the breakthrough onto the big stage was not yet achieved. This changed when...

In the fight against high inflation, the Federal Reserve launched an aggressive tightening cycle a year ago. Since then, price growth has slowed, but inflation remains well above the central bank’s target.

Wall Street analysts' estimates for real global economic growth have been raised slightly since the beginning of the year from 2.1% to 2.5%. The International Monetary Fund (IMF), for its part, even expects growth of 2.8% this year, followed by 3.0% next year. This raises the question: have we...

As expected, the US Federal Reserve (Fed) last week raised its key interest rate by a further 25 basis points to a new target range of 5.00-5.25%. With this step the Fed has raised the Fed funds rate by 500 basis points in the last 14 months - the steepest rate hike cycle in the last 40 years.

China has returned to the growth path and is expected to dominate global economic growth in the coming years. This is sparking investors' interest. We see potential in emerging market equities and especially in Chinese stocks.

As so often in recent decades, the US is slowly but surely approaching the debt ceiling. The debate between the two main protagonists in Washington - the Democrats and the Republicans - is already in full swing. This summer, the limit to which the US government is allowed to incur maximum debt...

The American consumer has been the focus of attention on financial markets time and again in recent decades. This is no surprise, as consumption is responsible for almost 70% of US economic output and thus for almost 20% of global GDP. It therefore seems sensible to take a closer look at the US...

Fifty-eight years ago, in April 1965, George Moore - co-founder of Intel - invented "Moore's Law," which states that the number of transistors on an integrated circuit (IC) doubles approximately every two years. While the human brain thinks in linear processes, technological progress is always...

The topic of inflation and central banks' responses to it has been well covered over the past two years. However, much of the focus has been on current readings and market participants' expectations for the coming months. On the positive side, investors' long-term US inflation expectations...