British shares will develop since the Brexit Referendum is weaker than the global equity market, Fund managers continue to adhere to share, and the market for US corporate bonds with a "BBB"Rating is now about three times as large as for high-yield bonds.

financial and commodity values put the brakes on the FTSE 100

The UK's FTSE 100 has Referendum since the Brexit-the 23. June 2016, almost 40 percent of poor stock market developed as of the World.

Deutsche Bank value of stock from the UK

in My opinion, the Underperformance is due only in part to the political instability in the UK. At least as important the high index weighting of financial and Raw materials is likely to be. These sectors together account for about 40 percent of the FTSE 100. the While banks in the last few years under the low interest rate environment, have suffered, are raw material companies of the global business cycle. Should dissolve by the Coronavirus-induced growth, could attract the FTSE 100 yields to rise and commodity prices continue their recovery to continue. The dividend yield of the FTSE 100 is 4.6 percent higher than average, the price-to-earnings ratio of 13.4 is relatively low.

Fund managers continue to favour equities

The most recent Fund Manager survey by Bank of America Merrill Lynch shows that Although investors are showing due to the effects of Coronavirus on the world economy is concerned, stick to share – in particular, to technology and Growth stocks. the Driving force the Central banks to push the market with liquidity floods, and yields in the bond markets, are still. Furthermore, the trade dispute for the investors is no longer an issue. As the largest risk factors for the markets they called the U.S. presidential election, a bubble in the bond market, as well as the Coronavirus. Overall, I agree with the assessment of the colleagues. In addition to Growth stocks, I would be rated but also a convenient Value to record shares in a broadly diversified Portfolio. This is likely to benefit from a recovery in the economy in the course of the year especially.

Worry about "fallen Angels" in the bond market

For the credit rating agencies Fitch and S&P, the credit rating of Kraft Heinz is no longer "Investment Grade"range. The downgrade of the debt Ratings to "BB" and thus in the high-yield segment has launched the market, the risk of such "fallen Angel"companies that lose their good credit and in the high-yield market is slipping back into consciousness. The market for US corporate bonds with BBB-Rating – one step in front of a high interest rate is now about three times as large as for high-yield bonds. the There is concern that in the case of a cyclical downturn in the high-yield market due to rating downgrades could become flooded, and thus a price fall is triggered. The affected bonds of force Heinz in the volume of 21 billion U.S. dollars, will account for next month alone, around two percent of the high-yield market and could offer a taste of how the market absorbed the increased supply. A threat to the financial market due to the continued global search for Yields not to see. An entry in the US high-yield bonds seems to me to be due to the low performance potential, however, is not advisable.

investment opportunity in Africa?

Africa could offer because of the impressive economic dynamics of individual countries an interesting investment opportunity for risk-tolerant investors. For Kenya and Ghana, the world Bank, for example, expects that in 2020, with economic growth of 6.0 or 6.8 percent. Kenya alongside South Africa, Egypt, Morocco and Nigeria, the largest securities exchanges in Africa. the direct access to the African stock exchanges is, however, for private investors are often difficult or only possible to a limited extent. Investments via funds, however, allow a commitment, and reduce by a wide diversification of the risk. A further possibility is to invest in non-African companies that are positioned in the dynamically growing markets of Africa well. The advantage of this is: This international and well-known companies are frequently listed on the major stock exchanges of the world, which makes an investment.

Brexit completed – why the uncertainty still remains

Since 1. February 2020, is the UK member of the European Union. Thus, the issue of Brexit, however, is not off the table: The future relationship of the two parties after the end of the transition period is completely open. What the investor means that I have analysed here for you.

Here you will read the analysis.

the number of the day: 4:56

The storm, Sabine Germany has been shaken and some of the passengers of British Airways a short night brings. the driven by a strong Jetstream, you made the route New York–London in record time of 4 hours, 56 minutes and landed early in the Morning, almost two hours earlier than planned. Curiosity at the edge: The Boeing 747 flew at times faster than sound, breaking the sound barrier, but, because the air was around them at high speed on the road.

Press the pace.

Sincerely,

Ulrich Stephan

chief investment strategist for Private and corporate customers

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ham Date Of Update: 19 February 2020, 10:00