Weekly Newsletter

Weekly Newsletter

The year is almost over. The MSCI World is nearly unchanged as well as global government bonds. The losers are Emerging markets and commodities, in particular metals and energy.


Yesterday the US Fed increased its Fed Fund target rate by 0.25%. This step had been announced for 2015 and delayed to the very last Fed meeting of the year. Despite being bad news for most asset classes markets appear to be happy that the waiting is over now.


Also beside the Fed waiting game 2015 has been an exciting year. There have been VW Diesel gate, big changes in China, another Greek shake up of Eurozone, hundreds of thousands of refugees caused by in increasing mess in Middle East, Russian adventures in Syria and Ukraine, to name just a few.


Where do markets go in 2016 from here?
Erwin Lasshofer and his INNOVATIS expect volatile markets trending sideways. Economic and monetary growth is limited. While the US Fed is slowing down the ECB is still expanding. We expect increasing M&A activity in commodities and energy sector that will finally lead to increasing prices. For a recovery of crude oil prices an agreement between OPEC and non-OPEC producers will be essential.












































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