The re is still great uncertainty, especially with regard to mutations in the virus. According to experts, a braking effect for equities could also develop further increases in interest rates on the bond markets.
The index reached a record high at around 14,169 points. He then sounded the low of the latest consolidation with a good 13,800 points. A clear trend is nil.
“Flanked by vaccination advances and a gradual lifting of the lockdown, a positive economic future will be paid for on the stock exchanges,” says market strategist Robert Halver optimistically. A catching-up process can be expected, especially in export, consumption and trade. “This brightened picture is confirmed by the Ifo business figures in the new week,” predicts Halver.
The ifo index on Monday should be one of the economic highlights of the week.
Investors recently worried about the rise in yields, especially in the USA. Yields on ten-year US bonds rose to their highest level in a year. This means that bonds can become more attractive again as an investment relative to stocks. Good economic data, rising prices and the prospect of a multi-billion dollar aid package from the new US administration drove yields up. In the new week, consumer surveys and new orders for industrial goods could consolidate this trend.
The Fed will have to do a lot of communication work in the coming weeks and months to keep market participants from unchanged Monetary policy convincing this year, “said analyst Hartmut Preiss from DZ Bank.
The ultra-loose monetary policy of the Fed had fueled the far-reaching recovery on the stock exchange after the corona crash .
The price-earnings ratio of the market-wide US index S&P 500 recently reached a very high level at just under 36. In the past, values of sustained over 30 were always followed by a drop of at least 20 percent.
The optimism is currently so pronounced “that bad news could burst this bubble”.
The quarterly reports and annual forecasts of the past few weeks moved the share prices of the companies in some cases strongly, but they failed as trendsetters for the overall markets. In the new weeks, eight Dax companies can look in the books.
The benchmarks are high at the chemical producers BASF and Covestro and also at HeidelbergCement; their prices had recovered particularly strongly since the Corona crash a year ago.
In addition, the agrochemical and pharmaceutical company Bayer will open its books. Here, the focus will be heavily on the outlook and on the extent to which the improved outlook for agriculture will affect the company. In addition, the US glyphosate litigation remains a topic./bek/ag/mis/men
— By Benjamin Krieger, dpa-AFX —
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WEEKLY OUTLOOK Dax caught corona interest rates economic optimism