News
![image description](/globalassets/news/markte/markteinblick_allgemein.jpg)
Catch-up potential until the end of the year
Looking ahead to November and the remainder of the fourth quarter, we are somewhat more confident than in previous months. A recovery on the markets is possible. Historically, November has always been a positive month after previous losses in August/September/October, based on the US S&P 500 index.
![image description](/globalassets/news/anlagethemen/post_branchenkom_ki_chip_800x450_10203.jpg)
AI: There is a lot of potential for investors in the supply chain
When it comes to artificial intelligence, a lot of people say it feels like a new era was ushered in this year. Historically, similar breakthroughs happened roughly every ten years. If the pattern repeats itself, we are indeed witnessing the dawn of a new era.
![image description](/globalassets/news/anlagethemen/china_artikel_800x450.jpg)
China: Western pessimism is overdone
China’s economy has disappointed lately. The hoped-for turnaround after the abandonment of the zero-Covid-19 policy has so far largely failed to materialise. One reason for this is that mainland Chinese hardly received any support from the state during the Covid-pandemic.
China pessimism in the Western press and among Western investors has reached a record high.
![image description](/globalassets/news/markte/markteinblick_allgemein.jpg)
Opportunities through special situations
Looking ahead to the current month, we remain cautious, even if a short-term recovery (due to market technical factors) is possible. The monetary situation can still be classified as negative. However, if you focus on special situations, you should be able to get through this phase well.
![image description](/globalassets/news/anlagethemen/post_branchenkom_automobilsektor_800x450_07082023.jpg)
Automotive industry: The calm before the storm
The automotive industry in Europe seems to have stabilised as supply chain problems and cost inflation due to the Covid-19 pandemic have eased. However, the shift towards electric vehicles is profoundly affecting the sector and presents challenges for traditional manufacturers.
![image description](/globalassets/news/markte/post_800x450_sm_marktausblick_juli_2023_mood_e_d.jpg)
Short-term market recovery possible
There are various reasons for a short-term market recovery in September. In the medium term, however, we remain cautious, as economic risks are increasing, not least in Europe. We see potential in Japan and in companies that can benefit from the US Inflation Reduction Act.
![image description](/contentassets/123c300d943844f4bd17d30c86daf797/dr_ulrich_kaffarnik_800x450_21082023.jpg)
Are interest rates about to plateau or peak?
Investors on both sides of the big pond are speculating whether the central banks have now reached the end of their interest rates hikes - especially in the U.S. What does the inverted yield curve mean for investors? Dr. Ulrich Kaffarnik explains what the latest developments mean for investors.
![image description](/globalassets/news/markte/rueckblick-monatsrueckblick.jpg)
US economy grows strongly
As in the previous month, the international stock markets showed their friendly side in July. Above all, the unexpectedly strong growth of the US economy in the second quarter had a positive effect on the stock markets. In addition, many market participants expect that the central banks in Europe and the USA will not take any further interest rate steps after the interest rate hikes in July.
![image description](/contentassets/12d673160dbe45d1b9ca951c35ee4c69/website_schlusselbranche-fur-die-dekarbonisierung_800x450.jpg)
Key industry for decarbonisation
Commodities have fared better in the past. But since the beginning of 2022, it seems, the worm has been in the wind. Production, profits and revenues of mining companies are falling, only costs are rising. But the sector is consolidating and a bottom is in sight. Moreover, the current mine supply cannot meet demand for some metals. This applies first and foremost to the key metal of decarbonisation: copper.
![image description](/contentassets/719c1ec3c9af45b491cb0c97b5b655cf/website_cloudcomputing1_800x450.jpg)
Cloud Computing – renting instead of (self-)making
In retrospect, 2006 was a decisive year for online retailing: the industry giant Amazon opened up its IT infrastructure, which until then had been used exclusively by itself, to other retailers and companies as a service. These "Amazon Web Services" include a broad range of different technical solutions that can be booked and cancelled according to individual needs. „Cloud computing" developed from this. In the following analysis, investors will learn about the complexity behind it, the opportunities that arise from it and which companies currently dominate the market.
![image description](/globalassets/news/markte/post_sm_800x450px_ubs_credits_0320236.jpg)
Liquidity becomes more precious
The bankruptcy of Silicon Valley Bank and the emergency takeover of the major Swiss bank Credit Suisse by its even larger rival UBS have unsettled the markets. While a broad banking crisis is unlikely, other consequences, such as for liquidity and credit, are foreseeable. DJE's banking analyst and fund manager Moritz Rehmann explains how DJE is dealing with the issue.
![image description](/globalassets/news/anlagethemen/website_deutschewohnimmobilien_800x450.jpg)
Light at the end of the tunnel?
With inflation easing, a recovery of German equitites of the residential real estate sector is possible. Certainly, the interest rate turnaround at the ECB will still take time, but the increase of key interest rates are beginning to take effect. The easing of energy costs is also having a supportive effect. In this environment a 30 percent correction of real estate prices anticipated by the market seems exaggerated, especially as the housing shortage continues to worsen. New construction should remain at a very low level in the coming years, while the influx of refugees from Ukraine is continuing at record levels.
![image description](/contentassets/5423ea8c291b4da681617ac7f927354d/dje_peter_lechner_web_800-x-450-pixel.jpg)
The comeback of bonds
For a long time, the asset class of bonds enjoyed great popularity among professional and private investors due to its broad stability and not infrequently served as risk mitigation and diversification in portfolios. However, inflation and rising market interest rates triggered a broad sell-off in the bond market this year, abruptly ending a bull market that had lasted for three decades.
![image description](/globalassets/news/fonds/qa_dje-mittelstand--innovation-800x450_philipp_stumpfegger_12_2022.jpg)
We look for structural winners in the niche
With the DJE - Mittelstand & Innovation, DJE bundles high-growth and innovative companies from Germany, Austria and Switzerland in one fund. Its concentrated portfolio includes many of the "hidden champions" from this region, which has recently been somewhat out of investors' focus, but whose strong Mittelstand companies are still worth a close look.
![image description](/globalassets/news/anlagethemen/dje_halbleiter_web_800-x-450-pixel.jpg)
Between recession and structural growth drivers Summary
With a recession looming, a short-term downturn in the semiconductor industry is probable, but this is unlikely to have much impact on structural trends as these trends are long-term drivers. Various forces are currently affecting the semiconductor industry, whose products are indispensable in many parts of the global economy. This situation is complicated: An improvement in supply chain problems meets recession concerns, and global tensions, particularly between the U.S. and China, are creating uncertainty. What investors should know now.