
Economic insights
Economic insights
Our experts regularly share their insights and forecasts, make evaluation and analysis on fresh statistics, explain economics and financial markets changes and tendencies in simple and understandable way.
Economic Outlook
2024
2023
2022
2021
2020
2019
Financial markets update
2024
- December: Turning the page
- November: The Panda strikes back
- October: The Doves are back
- September: Market sentiment swings wildly
- August: Calm waters disrupted
- July: As expected, not so much
- June: Strong earnings fuels market optimism
- May: The Long‑waited breather
- April: Equity markets set convincing new highs
- March: The great rate hangover
- February: Dancing on the edge of irrational exuberance?
- January: Jay the Santa
2023
- December: November shines bright
- November: Bond yields continue their march up
- October: September arrives with a gust of wind
- September: Markets cooled on the sugar highs
- August: Inflation sinks as bulls don’t blink
- July: Central bank actions impacting market sentiment
- June: Walking the Tightrope
- May: Sailing the calmer waters – for now
- April: Navigating a turbulent global economy
- March: The winter of European discontent has passed
- February: New Year brings more cheer
- January: Central banks have played Grinch this Christmas
2022
- December: Inflation started cooling down
- November: The prime minister resigns, long live the prime minister
- October: A bunch of challenges remains in the markets
- September: The message is clear – FED maintains restrictive monetary policy
- August: Despite all turbulences in the political environment, markets rallied
- July: Accelerated inflation – the headache for Central Banks
- June: Large swings in equity indexes test investors’ patience
- May: Central banks are pressured to raise rates
- April: Markets shrugged off first rate hike in US
- March: Markets reacted to the military conflict in Ukraine
- February: Markets took a breather after a great run in 2021
- January: 2021 – year of COVID waves, record high stock market indexes and not exactly “transitory” inflation
2021
- December: Markets corrected after reaching record highs
- November: Markets bounced back to all-time highs
- October: Volatility came back during first month of autumn
- September: Markets ended summer on a positive note
- August: Financial markets drift higher amid increased volatility
- July: Equity prices climbing higher, while mixed messages on inflation appear
- June: Evidence of rising inflation and its repercussions for financial markets
- May: Upside momentum continues, but optimism might be way too high
- April: Consistent market patterns year to date, should we expect more of the same in April?
- March: Possibility of higher inflation – risk for certain assets, but opportunity for the other
- February: New fiscal stimulus – boosting further rally or creating reasons for concern?
- January: Entering 2021 – hopefully more relaxed, but possibly more challenging year than 2020
2020
- December: November raised investor hopes, but will the rally be sustained?
- November: Second COVID‑19 wave and US political uncertainty raise questions about the future
- October: With markets cooling off, US politics and COVID‑19 developments come into spotlight
- September: Stock market excitement intensified in August, but is it reasonable?
- August: More stimulus and liquidity may prolong euphoria, but further rise in prices hardly rational
- July: Consolidation in June – pause before another all‑time high or start of major reversal
- June: Financial markets and economy paint two different pictures – which one is correct?
- May: Rally in April – return to normality or major investor trap?
- April: Global pandemic – entering period of unprecedented economic events and market volatility
- March: Will global stimuli be enough to reverse coronavirus damage?
- February: Chinese Coronavirus – new “Black Swan” or buying opportunity?
- January: If fears of recession do not materialize, expect euphoria to continue during 2020 as well
2019
- December: Positive inertia still prevailed in November, but conditions for Santa Claus rally might be less certain
- November: Reduced uncertainties return investor optimism, but no clear skies there yet
- October: October uncertainties require cautious stance in the market
- September: Pessimism is in the air, but reasons for hope still remain
- July: Interest rate cut expectations pushed markets to new highs
- June: All hopes are on the Central Banks
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