Before the global economy can breathe easy again, the air will first become even thinner. That being said, Bergos Berenberg’s capital market strategist Till Budelmann is somewhat more optimistic about 2021. This optimism seems to have already become a reality in markets. He still prefers US equities. The economy there has often proved to be better at recovering from a downturn. Moreover, the sectors that have benefitted the most from the crisis are strongly represented there. A gold overweight is a natural hedge against the great uncertainty surrounding the expected recovery. (…)
10.04.2026