News from the editorial

  • Klaus Meitinger

Elections, economy, securities markets - courageous answers to 15 tricky questions

Who will win the US presidential election? Who will become chancellor? Is Italy threatened with a debt cut? Where will the DAX be quoted in August 2021?

The editors of private wealth have collected 15 questions and presented them to the Lerbach Competence Group - a network of private bankers, family officers and asset managers.

In the coming days, private wealth will successively publish the professionals' forecasts.

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  • Klaus Meitinger

Stabilisation of the economy supports stock market.

Dear Readers,

In August, the ifo business climate index rose again. Particularly in the manufacturing sector, which is important for the private-wealth stock market indicator, the mood has now improved considerably. Although many industrial companies still assess their economic situation as poor, the outlook for the coming months is much better (chart below). The ifo researchers explain that order books are filling up again.

This is encouraging. What is interesting for investors is that the recovery in the industrial sector should not only support the entire stock market. It could also create investment opportunities in second- and third-tier cyclical companies whose stock prices are still far below pre-corona levels.

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  • Klaus Meitinger

The weather forecast of the capital market seismograph - still sunny

Kapitalmarkt Seismograf 2The current news draws a fragile picture. The infection figures in Europe are rising significantly, government travel warnings are increasing, the conflict between the USA and China continues to smoulder, in Belarus the population is taking to the streets and the Turkish lira is plummeting. Could this be a harbinger of a difficult phase on the stock market?

"Although the markets are currently facing headwinds from politics, the economic data is falling, but many market participants are obviously positive about the situation," analyses Oliver Schlick, Secaro. The capital market seismograph calculated by Schlick therefore continues to suggest a clear overweighting of equities.

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