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In the long term, share prices follow the profit development of companies. In the short and medium term, on the other hand, share prices tend to follow expectations of future profit development. Are these expectations still clearly too high?

Once per quarter we give you an update on ETHENEA's macroeconomic house view. This time, Dr. Andrea Siviero explains the factors that make a recession increasingly likely.

Here you can find press articles about ETHENEA

Investors have countless resources to draw from when making investment decisions. We often need the benefit of hindsight to know whether or not it’s worth heeding stock-market proverbs. One thing is for certain, which is that, in reality, a whole array of factors play a role. Things constantly have to be weighed up, we have to proceed tactically and, if need be, corrections made. And we need to be able to hold firm to offer the investor added value in the end. In our latest Market Commentary, Michael Blümke gives readers a look behind the scenes of active portfolio management.

After the ECB raised interest rates in July, the risk of European peripheral bond credit spreads drifting apart increased. But the ECB is ready for this, too, and is using its mandate to the fullest extent, says Dr Volker Schmidt.

The euro fell below parity with the U.S. dollar in mid-July. Philip Bold explains why and considers whether strong European exporters will benefit.