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Dax Has Been Stuck For Days

The Dax has been stuck for days and does not move properly. Experts are nevertheless confident that the leading index can continue to rise. The reason is the policy of cheap money by the central banks.

Dax Has Been Stuck For Days
Yazar: Tom Roberts

Yayınlanma: 19 Eylül 2020 21:12

Güncellenme: 18 Kasım 2024 10:25

Dax Has Been Stuck For Days

According to experts, investors should not be discouraged by the recent slack in the stock markets. Mark Haefele, chief investor at UBS's asset management team, predicts that cheap money will fuel the share rally. "The central banks have anything but missed their powder." Cash holdings and secure bonds, on the other hand, remained a losing business for the foreseeable future.
In the past few days, the bottom line was that the Dax hardly moved. Since the beginning of the month it has increased somewhat, although September is actually its worst month with an average minus of almost two percent. A march through is not to be expected, says Robert Greil, chief investment strategist at the Merck Finck bank. "The increasing fear of a second wave of infections is likely to curb optimism. In view of the increasingly political rest of the year, it is now important for the financial markets that the economic trend does not reverse, but at least remains stable in the short term, and then continues to recover."

Risk factors Brexit and the US election

Political squabbles like the Brexit saga could also plunge the stock exchanges into turmoil. The main point of contention there is currently the planned internal market law, with which British Prime Minister Boris Johnson wants to undermine parts of the Brexit agreement, says economist Hetal Mehta from asset manager Legal & General. "The only question is a hard or perhaps not so hard Brexit. Unless there is a blockade in parliament, a political turnaround or a clear concession from Brussels. None of this is particularly likely." In the past two weeks, the pound sterling has therefore depreciated almost three percent against the euro. In addition, the US presidential election in November will cast its shadow, says portfolio manager Christoph Mertens from Fürst Fugger Privatbank. "For the stock exchanges, it will be of great relevance who will rule the White House in the coming years. Even forecasts for the election result can influence prices." Recent polls show that challenger Joe Biden is nine percentage points ahead of incumbent Donald Trump. However, he was able to reduce his deficit in the past few weeks.
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