Since the financial crisis, the US stock market has been much more stable than the European stock markets. It has been in a bull market for ten years now. Till Christian Budelmann, capital market strategist at Bergos Berenberg, which has recently separated from the Berenberg Group and established itself as an independent Swiss private bank with new partners, sees a good chance that the upward trend will continue this year. He is optimistic about the probable end of the cycle of interest rate hikes, but also about the moderate share valuations, the market breadth of performance and the defensive positioning of investors. He sees politics as the biggest risk factor. In addition to the trade conflict with China, the preparations for the presidential elections in autumn 2020 could weigh on the stock market. (…)
28.02.2026