The Ifo business cycle indicator has made up for last month's decline. It is noteworthy that companies are now assessing their current situation better than they have been for more than five years. There is no doubt about it: Germany is in the midst of a veritable economic boom. The fact that expectations for the coming six months have improved even further in this situation is astonishing. At some point in the coming months there will be a turnaround in expectations. Because if the economy cannot (even) get better, it simply gets worse. This needs to be monitored closely, as it could trigger a sell signal for equities.