News archive

The global economy continues to grow

Global indices climbed to new record levels in December, but the omicron variant, inflation and tightening up of the monetary policy were what stole the headlines.

Fear of new lockdowns

November was a volatile month and the new omicron Covid variant in particular scared the financial markets. The focus was still on normalising monetary policy.

The support purchases are to be reduced

A few days ago, the US central bank (FED) announced it will start to reduce its support purchases in the bond markets in November - the first step in normalising its monetary policy.

Weaker growth momentum

Fear that Chinese housebuilder Evergrande will not be able to meet its obligations was one of several factors which caused a fall in share prices in September.

Towards normalisation of the monetary policy?

In August, the eyes of the market were on the signals from the annual symposium in Jackson Hole, where hints of a likely reduction in the US central bank’s asset purchases were expected.

Renewed COVID fears

Fears that the new Delta variant will delay the reopening affected the markets in July. Nonetheless, the stock exchanges continued to rise, apparently driven by falling long-term interest rates.

Fear of inflation is receding

Strong macro figures and a declining fear of inflation led to the markets rising again in June. US long-term interest rates also fell, but future developments depend on whether inflation takes hold.

The economy is opening up

The global reopening is running smoothly, and many countries are approaching herd immunity. That means more growth in the world’s economy, but rising inflation is creating uncertainty.

USA leads the reopening

Pent-up demand and a reopening that appears increasingly close are increasing inflationary expectations.

Reopening is coming steadily closer

The stock markets continued to rise in March, in line with a reopening of the economy appearing steadily more likely. Despite new lockdowns, the vaccination news is uplifting.