The global economy is expected to achieve remarkably high growth in 2021. This is a good basis for the capital markets, but it creates risks and may require reallocations.
Looking at the divergence between the copper/gold ratio and real yields suggests that some caution may be in order.
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By: Joern Wasmund
A lot has changed, but readers familiar with our previous annual outlook might experience a strange sense of déjà vu.
Given the current increase in Treasury yields, we think investors can probably log in the gap between German Bunds and euro-hedged U.S. Treasury yields for quite a while.
The U.S. elections and a Covid-19 vaccine breakthrough have provoked an upheaval in capital markets. Euphoria prevails, with foreseeable pitfalls.
By: Petra Pflaum
Why ESG quality is such an important driver for investors and performance across companies, sectors and sub-sectors.