Lars Kreckel
Lars Kreckel
equity fed hikes present problem rate
Fed and ECB rate hikes should not present a liquidity problem for equity markets.
fed negative partly raising slightly start waiting
It was a slightly negative day, partly because of waiting for when the Fed will start raising rates,
corporate economic global longer outlook past profit strong
In the longer term, we are more optimistic. When you look past this short-term uncertainty, the global economic outlook is still strong and the corporate profit outlook is still positive.
coalition german grand longer market mean negative reforms slightly view
The German market would view such a grand coalition as slightly negative because it could mean reforms will take longer to enforce.
buffer downward european interest markets pressure protect relative rising safety
European markets still have a safety buffer from relative valuations that will protect equities from any downward pressure from rising interest rates.
activity cyclical defensive difficult driving sector seeing whatever
It's difficult to say if it's cyclical or defensive sectors driving the market. Whatever sector is seeing some M&A speculation or activity is the one that's going well at the moment.
interest pose rates risk
Interest rates pose little medium-term risk to equities in our view.
beginning cycle hiking market price rate
The market is beginning to price the end of the (Fed) rate hiking cycle in.
case change corporate driven german germany government momentum outcome reform rest year
The case for German equities does not rest on the outcome of the election. For more than a year now, change in Germany has been driven by the corporate sector, while government reform momentum has slowed down.
identify moment seem trend
The only trend you can really identify at the moment is that things seem to be M&A driven.
european optimistic relatively season
We would be relatively optimistic for the European season as well.