Dear Readers, The ifo business climate in November did not reverse the trend. The most important component for us - the industry's expectations for the future - has continued to decline. The ifo traffic light is now also "red" again. Red traffic light values make a contraction of the economy more likely than an expansion.

Dear Readers, "the thunderstorm front, which led us to completely dismantle our shareholding two weeks ago, has now dissipated somewhat," informs Oliver Schlick, who recalculates the capital market seismograph every four days. As you know, the capital market seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest, but with hedge) and "red" (turbulent market with negative expectation = do not invest).

Dear Readers, The ifo business climate is pointing downwards again in October. The most important component for us - the expectations in industry for the future - also fell back after a twofold increase. After a brief recovery, the mood in the export sector has also been dampened. The ifo traffic light has thus switched from "green" to "yellow". At yellow traffic lights, the ifo Institute assumes that there is a high degree of uncertainty about the economic regime.

October 28 will be a fateful day for Brazil. The huge country with the size of a continent has to choose between two candidates for the presidency in the run-off election. You couldn't be more different.According to surveys, the left-wing candidate Fernando Haddad currently receives 43 percent of the votes. "That's not zero, but honestly: I don't see any chance of his victory," says André Müller Carioba, German-Brazilian and Chairman of the Advisory Board of the LIDE Deutschland business network.

Dear Readers, "The pace at which the probability of a bear market increases is worrying," informs Oliver Schlick, who recalculates the capital market seismograph every four days. As you know, the capital market seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest, but with hedge) and "red" (turbulent market with negative expectation = do not invest).