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Equities still the place to be

By: Klaus Kaldemorgen

Monetary and fiscal packages are driving the markets, but their valuation leaves little room for economic disappointment.

Crisis makes even stronger case for equities

By: Klaus Kaldemorgen

How deep the crisis could be remains uncertain. The size of many aid packages, however, is rather concrete. Equities should be among the relative winners.

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2020 can't be expected to keep up with 2019

By: Christian Hille

2019 has been exceptional for investors thanks to receding recession fears and generous central banks. 2020 is unlikely to be as good.

Ready for sideways trading

By: Christian Hille

Central banks have pushed valuations up, leaving little upside potential. We stick to equities and hedge portfolios.

Reduce risk, increase flexibility

We are less gloomy on the outlook than bond markets. In our view, equity markets have to correct before offering opportunities for entry.