ECB boss Lagarde once again stated at today’s meeting that the central bank will only lower interest rates from the summer onwards – but the markets don’t believe that and are betting even more strongly than before that the ECB will significantly reduce interest rates from April (in 2024 by 1.5%). This is also reflected in the fact that the euro is falling, as are the yields on German government bonds. So you could say: the markets are giving Lagarde and Co the stink finger! Wall Street with slight gains today after US GDP was better than expected – but the price components included in it were lower (hence continued hopes for interest rate cuts). Tesla shares, on the other hand, are a massacre – Tesla is being downgraded by virtually all analysts today.
Notes from video:
1. Interest rates: Markets are betting on sharp cuts despite ECB statements
2. LNG import ban from Russia? Proposal with immense consequences
3. The financial talk: Markus Fugmann with Giovanni Cicivelli and Jens Chrzanowski – registration